St. Maarten Prime Minister hopes for speedy resolution of ongoing row

POSTED: 05/30/11 12:12 PM

St. Maarten – Prime Minister Sarah Wescot-Williams is hoping for a “speedy resolution” to the public row between Director of the Central Bank of Curacao and St. Maarten Emsley Tromp and the members of Schotte cabinet. The statement was made Sunday after the Prime Minister, Vice Prime Minister Theodore Heyliger and Finance Minister Hiro Shigemoto met Tromp, Alberto Romero and Hasemijer on Friday on the current state of affairs at the financial institution.
“The Council of Ministers has been closely following developments in Curacao. The situation is a very sensitive one in Curacao and we would like to see a speedy resolution,” Wescot-Williams told the Department of Communication (DCOMM) on Sunday.
The Prime Minister added that the Council of Ministers will be meeting in the new week for a strategic session which includes a meeting regarding the country’s position on monetary matters.
Central Banks are the guardians of the financial system of a country. It is a public institution that issues the currency, regulates the money supply, and controls the interest rates in a country.
Wescot-Williams reiterated that St. Maarten’s nominations for the Supervisory Board of the Central Bank were ratified in the Council of Ministers on December 14 and April 19. The country’s nominees are Jairo Bloem, Robbie Ferron and Marciela Illidge. Bloem was nominated after attorney at law Ralph Richardson withdrew. The Prime Minister drafted a letter mid-May and sent it to the Governor regarding the country’s nominees for the supervisory board of directors.
Wescot-Williams also stressed Sunday that the Bank charter stipulates that the chairman of the board should be a joint decision of both Curacao and St. Maarten and it was agreed that the finance ministers will consult further on this.

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