Dutch hesitant to facilitate islands’ de-risking process

GREAT BAY – The Netherlands is hesitant about becoming a part of the solution for de-risking on the islands out of concerns about the supervision of the Central Bank, Finance Minister Richard Gibson said yesterday.

The minister has discussed the de-risking issue with American authorities together with Curacao’s Finance Minister José Jardim. The islands, together with Jamaica, want an exception similar to the solution the Americans have granted to Mexico.

Correspondent banks in the United States threatened to cut ties with banks on the islands out of fear for huge fines that could come their way as a punishment for being involved in money laundering.

“The US has expressed interest in using the Dutch islands in the Caribbean and Jamaica as examples to the world for their approach to de-risking,” Gibson said. “They require however that the Netherlands comes on board to facilitate this process. All the islands have agreed, but the Netherlands has hesitations and we are awaiting their decision.”

The minister emphasized the importance of getting a grip on the de-risking process. “This is extremely important to the welfare of our economy and our people. There should be no hesitation whatsoever in pursuing the path to eliminate this risk that is hanging over our heads. I hope the Dutch will realize that this is of life-importance to us.””