PHILIPSBURG – Media reports about the reform of the pension system, combined with an advice from financial supervisor Cft have caused some confusion about the real state of affairs. Minister Panneflek announced that the AOV-reserves (the funds used to pay old age pensions) will be exhausted in 2038 and the Cft expressed concerns that the 11.11 percent increase of the pensions would wipe out the savings that would result from the increased retirement-age. Is this is a reason for panic among those who will retire around eighteen years from now? Not yet. Let’s take a closer look at the AOV-fund…
Author: The Publisher
By Hilbert Haar Four employer organizations have launched what feels like a pre-emptive strike against the imminent reform of the Social Economic Council by joining forces and establishing the Employer Council of St. Maarten. This way, the Marine Trades Association (SMMTA), the Hospitality and Trade Association (SHTA), the Indian Merchants Association (IMA) and the Timeshare Association (SMTA) pretty much take the wind out of a mandate that was given to the Chamber of Commerce for the establishment of an umbrella organization for employer-organizations. With this new council a reality, the Chamber can save itself the trouble. Interestingly, the four associations…
PHILIPSBURG – After the Windward Islands Chamber of Labor Unions (Wiclu) as the umbrella organization for employees, St. Maarten now also has a similar organization to represent the interests of employers: the Employer Council St. Maarten. Participating in this council that was legally established on July 10 are the Marine Trades Association (SMMTA), the Hospitality and Trade Association (SHTA), the Indian Merchants Association (IMA) and the Timeshare Association (SMTA). Currently missing in this line-up is the Chinese Merchants Association but that could change anytime since the council has declared itself open to membership for professional business associations as long as…
By Hilbert Haar I always thought that when a woman says no she means no but apparently the rules in politics are different. This thought crossed my mind after reading the press release from the Prime Minister’s office upon her return from The Hague where Curacao, Aruba and St. Maarten heroically refused to accept the kingdom’s conditions for continued liquidity support. “All countries stood their grounds in not accepting the conditions attached to the loan as presented by the Netherlands because it infringes on their autonomy.” To make things perfectly clear, Jacobs added in her press release “that St. Maarten…
PHILIPSBURG – The Caribbean Reform Entity (CRE) – if it ever becomes a reality – will take measures to reform the education systems in Curacao, Aruba, and St. Maarten and also look for ways to improve the healthcare system on the islands; all this, according to the document that outlines the intentions of the CRE, in consultation with the countries. The CRE-document notes that the COVID-19 crisis has made the shortcomings in the healthcare systems painfully clear. To keep this crisis manageable St. Maarten has to execute the advice issued by the OMT (Outbreak Management Team). Prof. Dr. Jaap van…
PHILIPSBURG – The Caribbean Reform Entity wants to contribute to strengthening the constitutional state, it appears from the document the Ministry of Home Affairs and Kingdom Relations that outlines the entity’s plans for Curacao, Aruba and St. Maarten. One of the projects is to put management and control of the Crime Fund in order. The CRE-document simply states that St. Maarten will abide by the recommendations from the Law Enforcement Council; the same applies to Curacao. Both countries have to appoint an independent organization that will be tasked with controlling whether the fund abides by the recommendations and whether it…
PHILIPSBURG – The document authored by the Ministry of Home Affairs and Kingdom Relations that outlines the measures the Caribbean Reform entity (CE) intends to implement in St. Maarten Curacao and Aruba pays keen attention to economic reform with a series of nine projects. And once more, many of these initiatives should have been taken by successive governments since 10-10-10, but they never did. Possibly the most prominent change the CRE is promoting is a further increase of the retirement age. St. Maarten’s Parliament recently approved the increase from 62 to 65 years, but the CRE proposal foresees an increase…
PHILIPSBURG – Reading through the document that outlines the 59 measures the Caribbean Reform Entity (CRE) has in mind to put St. Maarten, Curacao and Aruba in better shape feels a lot like looking at an X-Ray that reveals in very embarrassing detail all the things successive governments should have done since 10-10-10 – but never did. This article highlights most of the proposed measures in the field of the costs and effectiveness of the public sector; this section contains 15 of the 59 CRE-measures. The CRE-objective is to increase the effectiveness of the public sector by decreasing the wage…
PHILIPSBURG – Government and Parliament will have their hands more than full in the next couple of weeks now that State Secretary Drs. Raymond Knops has released the detailed conditions for continued liquidity support. St. Maarten must get a whole range of measures in place by mid-September and for some measures, the deadlines are even tighter. This appears from several documents Knops sent to the Kingdom Council of Ministers. The government is asked to enter into a country-specific package agreement that will end on December 31, 2027, with the option of an extension by two years upon mutual agreement. The…
PHILIPSBURG – In collaboration with the Department of Foreign Relations (DBB), the Ministry of Education, Culture, Youth, and Sport (ECYS), and the Ministry of Tourism, Economic Affairs, Traffic and Telecommunication (TEATT), a repatriation flight has been arranged with Spirit Airlines for students and residents to return to St. Maarten. The flight will depart from Hollywood International Airport (FLL) in Ft. Lauderdale, FL, and proceed to Princess Juliana International Airport (SXM). Students and residents who have already registered via the DBB, ECYS and TEATT, have been forwarded to Spirit Airlines. Spirit Airlines will make the flight available for online booking via spirit.com as of 3:00 PM…
