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 these payments over a five-year period is not feasible, so the ministry reached a agreement with labor unions in July to extend this period More...

by The Publisher | Published 16 hours ago
By The Publisher On Saturday, September 30th, 2023

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...

By The Publisher On Thursday, September 28th, 2023

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...

By The Publisher On Wednesday, September 27th, 2023

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...

By The Publisher On Wednesday, September 27th, 2023

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...

By The Publisher On Wednesday, September 27th, 2023

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...

By The Publisher On Saturday, September 16th, 2023

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...

By The Publisher On Thursday, September 14th, 2023

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...

By The Publisher On Tuesday, September 12th, 2023

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...

By The Publisher On Monday, September 11th, 2023

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...