Tuitt seeks meeting with Jamaloodin on Central Bank

POSTED: 06/21/12 12:56 PM

St. Maarten – Finance Minister Roland Tuitt is seeking a meeting with Curacao’s Finance Minister George Jamaloodin to end the “kind of impasse” around the Central Bank of Curacao and St. Maarten. Tuitt is especially concerned that the bank’s budget for 2012 has not yet been approved by the board and the year is almost half over.

“The budget of 2012 of the central bank has not been approved up to this date and we are already in the month of June. As government we will have to talk about this seriously, because an institution cannot operate without a budget. The central bank is operating six months without a budget. That is not the way it is supposed to be and because of that I think we have to try to break this impasse as soon as possible and get things back on track,” Tuitt said at Wednesday’s Council of Ministers press briefing.

Later he’d add, “I will try to organize a meeting with the Minister of Finance of Curacao so we can sit down and go over what is the best strategy for us to get the items approved in the Central Bank and also get the Central Bank back on course. The Central Bank is a ticklish issue and we will have to do some talking about the way forward because we don’t have to forget that the Central Bank is a key institution of a country and if things are not happening the way they are supposed to happen in a Central Bank it’s detrimental to the country because then investors will not be willing to invest and people also won’t be willing to come to the country to give their services.”

Tuitt also said Wednesday that the Government of St. Maarten still has not taken a decision on the board’s request to suspend the director of the central bank Emsley Tromp.

“We discussed it, but we took no decision. We have to gather some more information on this matter. We will come to a decision quicker than sooner,” Tuitt said.

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