No agreement yet on Central Bank Chairman

POSTED: 06/30/11 12:25 PM

Curacao yet to name candidate

St. Maarten – Finance Minister Hiro Shigemoto has informed Parliament that the appointment of a Chairman of the Supervisory Board of Directors of the Central Bank of Curacao and St. Maarten is still pending. His announcement is part of answers he sent to MPs on June 22.

The candidate for the position is nominated jointly by the Finance Ministers of both countries. Rudolf Baetsen was proposed but withdrew on April 1 in the midst of controversy and concern in Curacao over his potential appointment. St. Maarten submitted Martin Hassink as its candidate on May 30 and asked that Curacao submit its candidate by June 6. In a letter on June 7 Jamaloodin said the government will name its candidate on June 17. Shigemoto does not state in his answers to Parliament that a name has been sent.

Asked about it Tuesday he stated, “I know he had written that he would inform me by June 17, but I have not received a letter in the interim.”

The minister does inform Parliament however that the government is pressing forward with efforts to finalize the board and to have a “full fledge presence” in St. Maarten because most of the operations performed on Curacao should also be done here. This is in line with a letter that Shigemoto sent the Central Bank Director Dr. Emsley Tromp on May 31.

“Once the Supervisory Board has been formally established, I am hereby requesting your assistance to set up a full fledge, independent Central Bank on St. Maarten by January 1, 2012 based on a decision by the Council of Ministers in St. Maarten. I would gladly appreciate your coordination using all the resources available to implement the necessary measures for this initiative. Please let me know when St. Maarten can be of any assistance in this process and we would prefer to partake in the staff recruitment and development of expertise locally,” Shigemoto stated.

The minister states further that the government of St. Maarten is pro-dollarization and has requested the Windward Islands Banker’s Association to complete an independent study.


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