Curacao refuses loan and Ennia Leven will cease to exist
PHILIPSBURG — The Dutch loan of €600 million (1.2 billion guilders or $636 million) to Curacao and St. Maarten to save the life insurance branch of insurance company ENNIA is off the table. Curacao’s Prime Minister Gilmar Pisas stated that his government in cooperation with the government of St. Maarten will make a serious effort to guarantee More...
Central Bank: economic recovery continues
PHILIPSBURG — The economies of Curacao and St. Maarten continue to recover from the corona pandemic, the Central Bank of Curacao and St. Maarten (CBCS) states in its economic Bulletin of September. The first More...
Retroactive payments to justice personnel amount to almost $25 million
PHILIPSBURG — Retroactive payments to personnel of the justice ministry are going to cost the government 44,588,500 guilders ($24.9 million) it appears from a press release issued by the ministry. Making More...
Results pension fund APC under pressure
WILLEMSTAD — The results of general pension fund APC were under pressure in 2022 as a result of disappointing investment results and the war in the Ukraine and the associated price- and interest rate increases. More...
Integrity Chamber advises against payment of travel expenses by third parties
PHILIPSBURG — Expenses for travel and accommodation for ministers and civil servants should be paid by the government, the Integrity Chamber states in an advice to the Council of Ministers. Related link: Advice More...
Pension fund APS is not doing well
PHILIPSBURG — General Pension Fund APS is not doing well, it appears from a compliance audit into the fund’s financial statements 2022 conducted by the General Audit Chamber. APS’ coverage ratio dipped More...
Minister Irion: Solution for Ennia becomes unattainable if not all parties agree
PHILIPSBURG — Refinancing of the corona liquidity loans hinges on an agreement about a solution for embattled insurance company Ennia. The deadline to reach an agreement is October 15. “This agreement remains More...
Dutch senate gives green light for capital expenditures
PHILIPSBURG — The Dutch Senate approved a 60.9 million guilders ($34 million) loan for capital expenditures on Tuesday, September 26, Finance Minister Ardwell, Irion announced in a press release. The minister More...
Enterprise Support Program extended until 2028
PHILIPSBURG — The Enterprise Support Project (ESP) will remain in place until June 2028, the National Recovery Project Bureau (NRPB) announced in a press release. Micro, small and medium enterprises can 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...
