St. Maarten gets low interest rate on refinanced liquidity loans
PHILISPBURG — St. Maarten gets its liquidity loans refinanced against 3.4 percent interest while Curacao, that has refused to accept a Dutch loan to solve problems at insurance company ENNIA, will have to pay 5.1 percent. Aruba, that so far has refused to accept a law that regulates financial supervision, will have to pay 6.9 percent. This appears 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...
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...
Statistics department optimistic about economic recovery
PHILIPSBURG — St. Maarten’s economic recovery is moving in the right direction, according to the recently completed economic indicators table from the Department of Statistics (STAT). The numbers used for 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...
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...
St. Maarten faces significant challenges, Governor Baly says
PHILIPSBURG — “Sint Maarten still faces significant challenges. It is vulnerable to external shocks like natural disasters and to a global economic downturn,” Governor Ajamu Baly said in his speech during 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...
