Philipsburg – In a recent letter to Minister of Education, Culture, Youth and Sports Affairs (ECYS), Honorable Wycliffe S. Smith, regarding English as the first official language for St. Maarten, Member of Parliament Sarah A. Wescot-Williams reminded the Minister “how crucial this matter is in the process of nation building, and transparency and openness towards the community.” Wescot-Williams presented two “English Language” motions respectively in 2015 and 2016, which were unanimously passed by Parliament. Last year, the motions were brought to the attention of the Minister for his Ministry’s follow-up. “Responses have not been forthcoming – however I remain adamant…
Author: The Publisher
Willemstad/Philipsburg – The Centrale Bank van Curaçao en Sint Maarten (CBCS) acts as Agent on behalf of the government of the Country of Sint Maarten to issue the following government bond: Bond of Sint Maarten – August 2019/2044 for the principal amount of NAf. 30,000,000. Please note that the date for this government bond issue has changed due to procedural circumstances. More information about this issuance will be announced soon. If you have any questions or require additional information, please do not hesitate to contact our Treasury department at (599 9) 434-5792 or (599 9) 434-5741. Willemstad, August 28, 2019…
Sound policy response needed WILLEMSTAD/PHILIPSBURG – “The deepening current account deficit of the balance of payments of the monetary union and gradual slippage in the gross official reserves require a sound policy response,” stated Bob Traa, the acting president of the Centrale Bank van Curaçao en Sint Maarten in the Bank’s 2018 Annual Report. The deficit on the current account of the balance of payments widened in 2018 compared to 2017 as a result of a decline in the net export of goods and services, moderated by an increase in the net current transfers received from abroad. “The net exports…
Circumstances challenging in 2018 WILLEMSTAD/PHILIPSBURG – “The economic circumstances in the monetary union remained challenging in 2018 with both Curaçao and Sint Maarten recording a contraction,” Centrale Bank van Curaçao en Sint Maarten (CBCS) acting president Bob Traa stated in the central bank’s 2018 annual report. “Curaçao’s real GDP contraction remained significantly influenced by the economic crisis in Venezuela that affected particularly the refining, harbor, and construction sectors. Meanwhile, the lingering effects of Hurricane Irma on Sint Maarten caused an economic contraction in 2018,” Traa explained. The acting central bank president pointed out that the debt-to-GDP ratio rose in both…
Consolidation is crucial at a calibrated pace WILLEMSTAD/PHILIPSBURG – Acting president of the Centrale Bank van Curaçao en Sint Maarten Bob Traa stated in the Bank’s 2018 Annual Report that one of the challenges the two countries face is to manage fiscal consolidation, while experiencing slow or negative growth. The Kingdom Law of Financial Supervision was enacted in 2010 to ensure sound public finances in the new countries of Curaçao and Sint Maarten. This law includes a balanced budget rule for current revenues and expenditures. “Balancing the current budget is important and fiscal policy needs to be appropriately paced,” Traa…
Dear Editor, Divide and conquer used to be the tool by which the Dutch acquired colonies and controlled them. This principal is well known as is the savvy with which it has been applied through the years . Even long after the Dutch Kingdom agreed in the context of the United Nations to decolonize, colonization and control has continued . There is no country status, in fact we are still governed by the Kingdom and treated as colonies not equal partners. The divide and conquer principle has now evolved. Undermining of the people and its society is the new tool…
PHILIPSBURG — Ombudsman Gwendolien Mossel recently held a meeting with Minister Stuart Johnson upon his request to discuss pending cases and some other concerns of the Ombudsman as it relates to the Ministry of Tourism, Economic Affairs, Transport and Telecommunication (TEATT). The Ombudsman highlighted the importance of compliance with recommendations issued to the Ministries as this promotes good governance. The Ombudsman therefore applauds the initiative of the Minister to meet regarding this matter. The Ombudsman addressed the (non) follow-up of the Ministry on the recommendations issued in the Philipsburg Marketplace vendors investigation that was concluded in December 2017 as well…
PHILIPSBURG — The resistance of St. Maarten’s electricity network and water supply to natural disasters will be greatly improved with the execution of the Water and Electricity Resilience Program of the National Recovery Program Bureau (NRPB) and NV GEBE. On Tuesday, August 20th, in the presence of Miklos Giterson, Minster of Public Housing, Spatial Planning, Environment and Infrastructure (VROMI), a subsidiary agreement was signed between NV GEBE and the National Recovery Program Bureau (NRPB). In the coming years, the NRPB and GEBE will collaborate to put the remaining over-head electrical cables underground, upgrade transformer stations and replace analog electrical meters…
POND ISLAND – Last week Wednesday August 21, the Tax Transformation Project was kicked off with a presentation meeting with the entire staff of the Tax Department, Minister of Finance Hon. Perry Geerlings said on Sunday. The purpose of the presentation meeting was not only to kickoff and present the Tax Transformation Project, but also to give the staff the opportunity to comment on it and give their input. The Tax Transformation Project comprises of a three-pronged approach consisting of a reform process of the tax system; organizational transformation; and communication and education of all external and internal stakeholders. Minister…
PHILIPSBURG – Recently, Chairman Charles Smith and Board Member Cindy Marica, of the Corporate Governance Council (CGC), paid a courtesy visit to the office of Prime Minister Leona Romeo Marlin to present the CGC Year Report 2018. The CGC Year Report 2018 covers a summarized account of the activities of the Corporate Governance Council during the year. The Prime Minister and CGC briefly discussed certain challenges that the Council still faces such as budget, housing and hiring a staff member in order for the CGC to function optimally. The Prime Minister expressed her support and encouraged the efforts of the…
