St. Maarten Council of Ministers focuses on communication in meeting with Cft

POSTED: 05/19/11 12:09 PM

St. Maarten – Prime Minister Sarah Wescot-Williams says communication between the Government of St. Maarten and the Board of financial supervision (Cft) at various levels was the central point of a meeting on Tuesday. The Cft requested the meeting and came prepared to discuss the budget for 2011, the budget for 2010 and the financial results of that year, the preparation of the 2012 budget, financial management and corporate governance. Considering the “elaborate” discussions with the St. Maarten Minister of Finance and the Cft on these topics, the St. Maarten Council of Ministers chose to only give general information so they could go in depth on the communication issue.

“The position of the St. Maarten Council of Ministers is that it has to be very clear at what points and on what topics the Cft will become involved in the process, especially the process of preparing for a budget,” St. Maarten Prime Minister Sarah Wescot-Williams said at Wednesday’s Council of Ministers press briefing.

She made it clear that the St. Maarten government will comply with reporting requirements, but stressed the cabinet does not believe there is sufficient clarity on all sides as to when the Cft should become involved.

“We indicated that in our opinion it should be clear for all parties at what point, especially, again I repeat, in the preparation of the budget information can be exchanged or the involvement of the Cft would then become necessary or desirable,” the St. Maarten prime minister said.


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