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...

CBCS Annual Report review: Central Bank on balanced budget rule (Part 1)

Consolidation is crucial at a calibrated pace WILLEMSTAD/PHILIPSBURG – Acting president of the Centrale Bank van Curaçao en Sint Maarten Bob Traa stated in the Bank’s 2018 Annual Report that one of the challenges More...