PHILIPSBURG — The Caribbean Guilder will replace the Antillean Guilder per March 31, 2025, the Central Bank of Curacao and St. Maarten announced in a press release. Initially, the bank’s 2022 annual financial report stated that the new currency would be introduced in the second half of 2024. But the definite date for the introduction is now set for March 31, 2025. The Antillean guilder has been in circulation for more than seventy years, since 1952. In 1986, when Aruba obtained its status aparte that country launched the Aruban florin. In 2010, Bonaire, Statia and Saba introduced the American dollar…
Author: The Publisher
PHILIPSBURG — Politicians ought to wake up to the threats posed by climate change, it appears from the Central Bank’s latest economic bulletin. Richard Doornbosch, the president of the Central Bank of Curacao and St. Maarten (CBCS) writes that St. Maarten needs “to develop a comprehensive national climate adaptation strategy that should be integrated in the government’s long-term planning and fiscal framework.” This climate change-strategy should include the development of investment in climate-resilient infrastructure, Doornbosch writes. Other issues that require attention are the collection of new data and collaboration between local and international stakeholders to exchange existing data that are…
THE HAGUE — Aruba and Curacao have to allow marriages between same-sex partners. Both countries appealed the decision by the Common Court of Justice that ordered both countries to recognize these marriages at the Supreme Court in the Netherlands. Attorney-General Snijder concluded that the Supreme Court should reject the appeals. The final decision about this matter is expected on May 31, 2024. On December 6, 2022, the Common Court of Justice ruled that same-sex couples can get married and ordered Aruba and Curacao to cooperate. The court ruled that the ban on same-sex marriage violates the constitutional ban on discrimination.…
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 a letter dated November 30 to Minister of Finance Ardwell Irion. In her letter, Ongering refers to findings of the Foundation Government Accounting Bureau (SOAB) and the General Audit Chamber who both came to the same conclusion. St. Maarten has indicated that it will continue to work on the improvement of the quality of financial management together with the Temporary Work Organization (TWO) The 2021 annual account does not indicate…
PHILIPSBURG — The Central Bank of Curacao and St. Maarten (CBCS) has reached an agreement with the governments of Curacao and St. Maarten whereby there is no need for cuts in the pensions of Ennia policy holders. During the past couple of weeks the CBCS worked on a plan for the resolution of the problems at Ennia, it stated in a press release. The bank reached an agreement on the technical levels about the agreement, but the press release does not offer any details about its contents. Based on the agreement Ennia Leven, the entity that is responsible for the…
PHILIPSBURG — The Ministry of Home Affairs and Kingdom Relations (BZK) has made €1 million ($1.1 million) in subsidies available to support the Makana ferry service that connects Statia and Saba with St. Maarten. This appears from a letter State Secretary Alexandra van Huffelen sent to the Dutch parliament. Statia and Saba want to continue their support for the ferry service but they need additional funding for changes in planning and changes at their ports. The ferry company is also confronted with higher fuel prices. Makana cannot operate cost neutral during the next two years without subsidy of without higher…
PHILIPSBURG — There are twenty European funds St. Maarten could call on for financial assistance, it appears from a letter State Secretary Alexandra van Huffelen (Kingdom Relations) sent to the Dutch parliament. Currently there is however just one project in the pipeline: the preparation for a joint waste water treatment facility with the French side of the island. The EU has €1.15 million $1.26 million) available for it. Among the twenty European funds are Digital Europe, the European Social Fund and Invest EU. St. Maarten and other kingdom-islands in the Caribbean make only limited use of these funds, Van Huffelen…
PHILIPSBURG — Climate activist Riddhi Samtani asked attention for St. Maarten during the recently concluded United Nations climate conference in Dubai, wondering why her island cannot get help from climate funds while the people living on the island do experience the effect of climate change. Related article: ‘Why doesn’t the climate fund count for St Martin?’ The international fund for the support of poor countries that have not contributed a lot to climate change was launched during the conference in Dubai. But St. Maarten cannot call on this fund for assistance, Samtani said in an interview with a Dutch radio…
PHILIPSBURG — On a day like today, Sunday, December 17, 2023, a family’s worst nightmare is coming true. They were scheduled to arrive on Air France flight AF 498 at 2:50pm. Air France is 2,5 hours late. The ETA is now 5:35pm. They will miss their connecting flight to St. Barths today. The worst aspect is that in the party of 7 passengers, there is an infant. You don’t want to get stranded on your way to St. Barths with an infant. So what to do at this last minute? This is where the VIP Services of AirStMaarten comes into…
PHILIPSBURG — St. Maarten’s national debt increased over the first two quarters of 2023 but stabilized more or less at the end of the third quarter. This appears from reviews by financial supervisor Cft. Payment arrears to government entities keep going up. At the end of 2022, the national debt was 1,122 million guilders ($626.8 million), but in 2023 the debt kept increasing. First to 1,170 million ($653.6 million) and then to 1,287 million ($719 million), before the bleeding stopped at the end of the third quarter when it stood at 1,285 million ($717.9 million) – 44 percent of gross…
