Financial supervision evaluation is complete

POSTED: 07/27/15 8:08 PM

St. Maarten – The committee that evaluates the kingdom law financial supervision Curacao and St. Maarten must have completed its advice to Kingdom Relations Minister Ronald Plasterk a bit more than two weeks ago, on July 10. Plasterk will use this advice for a decision about a new mandate for the board financial supervision, the Cft, but he has not taken a decision yet.

The four-man committee, under chairman Ron Gomes-Casseres, a retired banker from Curacao, was recently established, on April 10. The mandate gave the committee three months to complete its advice, and that deadline has now expired. The other members of the committee, like their chairman all financial experts, are Rueben George Essed (on behalf of St. Maarten), Edelmiro Alejandro Seferina (on behalf of Curacao) and Peter van Gastel (on behalf of the Netherlands).

The committee’s advice will tell Minister Plasterk whether Curacao and St. Maarten structurally comply with the kingdom law financial supervision. Before completing the advice, the committee spoke with the Councils of Ministers in Willemstad and Philipsburg.

St. Maarten has struggled with its budget ever since the territory obtained country status on 10-10-10 and it is now even under the threat of an instruction because the government has not resolved its payment arrears to social insurance agency SZV and the pension fund APS. The suggestions that are on the table are not acceptable to the Cft.

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