St. Maarten needs massive financial support
Central Bank interim-President Jardim sounds the alarm: St. Maarten needs humongous financial support PHILIPSBURG – St. Maarten’s government needs between 86 and 104 million guilders ($48 to $58.1 million) More...
Plan for deposit guarantee regulation: too little, too late
PHILIPSBURG – The Central Bank of Curacao and Sint Maarten (CBCS) has presented the governments of both countries with a draft national ordinance aimed to establish a deposit guarantee regulation. Such a measure More...
Lion’s share of Central Bank profits stays in Curacao
PHILIPSBURG – The Central Bank of Curacao and St. Maarten is doing well but most of the profits from its healthy bottom line stay in Curacao. Between 2011 and 2018 - the last year of which audited data are available More...
CBCS cannot resolve Girobank debacle without assistance from the Netherlands
PHILIPSBURG/WILLEMSTAD -- More than 27,000 affected account holders at the insolvent Girobank NV in Curaçao can only look forward to payment of any remaining balances if the Netherlands comes to the rescue. This More...
Central Bank counters complaints by Ennia’s supervisory board
PHILIPSBURG – The Central Bank of Curacao and St. Maarten (CBCS) is not happy with a letter Faroe Metry, president of the supervisory board of insurance company Ennia’s operating units, wrote. The Central Bank More...
Court of First Instance of Curaçao declared BDO bankrupt
Willemstad – This morning the Court of First Instance of Curaçao declared Banco del Orinoco N.V. (BDO) bankrupt. Due to BDO’s severe dysfunctionality, the CBCS proceeded to revoke BDO’s banking license on More...
New bond issues for Country Sint Maarten
WILLEMSTAD/PHILIPSBURG — The Central Bank of Curaçao en Sint Maarten (CBCS) announces new bond issues on behalf of the Government of the Country of Sint Maarten. On Friday, October 18, 2019, there will be More...
Emergency measure for Banco del Orinoco N.V. imposed at the request of the CBCS – UPDATE
WILLEMSTAD, PHILIPSBURG — The Centrale Bank van Curaçao en Sint Maarten (CBCS) was forced, in view of deficiencies at Banco del Orinoco N.V., to petition the Court of First Instance of Curaçao to adopt More...
CBCS Annual Report review: Decline in official reserves (Part 3)
Sound policy response needed WILLEMSTAD/PHILIPSBURG – “The deepening current account deficit of the balance of payments of the monetary union and gradual slippage in the gross official reserves require a sound More...
CBCS Annual Report review: Curaçao and Sint Maarten economies contract (Part 2)
Circumstances challenging in 2018 WILLEMSTAD/PHILIPSBURG – “The economic circumstances in the monetary union remained challenging in 2018 with both Curaçao and Sint Maarten recording a contraction,” Centrale More...
