Ministerial consultation on Central Bank postponed

POSTED: 04/16/12 1:16 PM

St. Maarten – The meeting requested by St. Maarten’s Finance Minister Hiro Shigemoto on to accusations made and current developments surrounding the Central Bank of Curaçao and St, Maarten (CBCS) has been postponed. The meeting was set to take place today, but a request has been made to move the meeting to May 7.
The date change is that the bank’s Supervisory Board of Commissioners and the bank’s directors can have a chance to discuss matters internally on April 21 and potentially resolve outstanding and pending matters like the issuance of the Harbour Bond, 2012 budget as well as the latest developments in connection with the FCIB case and the Dutch Prosecutor’s statements regarding the CBCS’s role in this particular case.
“It is imperative that the supervisory board takes a position on the issues surrounding the CBCS and whatever that position may be, the supervisory board is firstly responsible for the functioning of the bank through its directors and the not the ministers of finance,” Shigemoto pointed out on Sunday.
Three way discussion
Shigemoto also said Sunday that while he is in favor of three way consultations with the Dutch Government on issues around the Central Bank, he does not agree that the time is right.
“I do agree with the Dutch State Secretary that there should be a tri-partite consultation on current state of affairs, however we are not at that stage of the process. I must also say that it is not up to the Dutch Government to decide for the two countries on this matter,” Shigemoto said.
The finance minister also expressed his concern about how the current situation is affecting the Central Bank’s image abroad.
“Unsettling issues that have developed in the past months need to be settled once and for all. As long as these issues remain not dealt with, it leaves it open for a cloud of speculation by everyone and I am particularly concerned about our international image of the bank and the country’s St. Maarten and Curacao. We, for St. Maarten, do not want any more negativity surrounding us unjustifiably,” Shigemoto said.
The finance minister also asserted that he is at the forefront of efforts to guarantee the independent status of the Central Bank, its role on monetary policy and financial stability, and relations with such international bodies as the World Bank and the International Monetary Fund (IMF).

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