Search Results for: cft
CFT expresses concerns about future of old age pensions
PHILIPSBURG — Financial supervisor CFT has expressed its concerns about the future of the old age pension (AOW) in St. Maarten. In a press release, the Cft notes that, starting in 2029, premiums will not More...
CFT foresees much higher surplus for 2023
PHILIPSBURG -- Financial supervisor CFT projects a much higher positive result for St. Maarten’s 2023 budget than the government. According to the ministry of finance the result for 2023 will be a surplus of More...
Cft remains critical of St. Maarten’s annual account
PHILIPSBURG — It is uncertain that the 2021 annual account presents an accurate picture of St. Maarten’s financial position, Drs. Lidewijde Ongering, the chairlady of financial supervisor Cft writes in More...
Economic recovery is above expectations, CFT says
PHILIPSBURG — St. Maarten performed better than expected in the first half year of 2023, financial supervisor CFT writes in a reaction to the country’s second execution report it received on August 30. More...
CFT warns that ENNIA-loan poses risk for Curacao
PHILIPSBURG — If the Netherlands decides to extend a 1.2 billion guilders loan to St. Maarten and Curacao to save insurance company ENNIA, it will have dire consequences for the future of in particular Curacao. More...
Cft satisfied with intended budget amendments
PHILIPSBURG — The government expects a budget surplus of 4 million guilders ($2.2 million) in 2024, 9 million ($5 million) in 2025 and 15 million ($8.4 million) in 2026. This projection appears from a letter More...
CFT unhappy with deficit on draft 2023 budget
PHILIPSBURG — Financial supervisor CFT is not happy with St. Maarten’s draft 2023 budget. While the Kingdom Council of Ministers decided on September 30, that this budget has to be balanced, it shows instead More...
CFT gives green light for revoking salary cuts
PHILIPSBURG — The government has met the requirements that allow it to revoke the 12.5 percent salary cut for employees in the (semi) public sector. This appears from a letter CFT-chairman Raymond Gradus More...
Cft advises the introduction of casino- and import taxes
PHILIPSBURG — Financial supervisor Cft is highly critical of St. Maarten’s budget for the year 2022. Because tax revenue is falling 12 million guilders ($6.7 million) behind 2019-levels, the Cft advises More...
Cft sounds the alarm again about untenable financial position social funds
PHILIPSUBRG — Financial supervisor Cft expressed serious criticism of St. Maarten’s 2021 budget in a letter from Cft-chairman Prof. Dr. Raymond Gradus to Finance Minister Ardwell Irion on October 13. The More...
