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. The coverage rate declined from 111.5 percent in 2021 to 103.7 percent at the end of 2022. In its annual report APC maintains that its 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...
Curacao’s position on Ennia could cost St. Maarten a lot of money
THE HAGUE — If Curacao continues to object to the rescue plan for Ennia’s pension fund it could have dire consequences for St. Maarten, DossierKoninkrijksrelaties.nl reports. If Curacao does not cooperate, 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...
Conditions influence interest rates for refinanced liquidity loans
PHILIPSBURG — State Secretary Alexandra van Huffelen is prepared to refinance the liquidity loans for St. Maarten Curacao and Aruba if the islands meet “country-specific conditions,” it appears from a More...
