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...
Dutch loan to rescue ENNIA meets with criticism
PHILIPSBURG — If the Dutch parliament agrees, insurance company ENNIA will be saved with a 600 million euro loan from the Netherlands. But not everybody is happy with this solution. The deal is that St. Maarten More...
Netherlands extends new loan to St. Maarten
PHILIPSBURG – The Netherlands extends a new loan of €33.5 million (60.8 million guilders or $34 million) to St. Maarten. The loan is intended for investments in wastewater treatment, physical and cultural More...
CFT unhappy with deficit on draft 2023 budget
PHILIPSBURG — Financial supervisor CFT is not happy with St. Maarten’s draft 2023 budget. While the Kingdom Council of Ministers decided on September 30, that this budget has to be balanced, it shows instead More...
CFT gives green light for revoking salary cuts
PHILIPSBURG — The government has met the requirements that allow it to revoke the 12.5 percent salary cut for employees in the (semi) public sector. This appears from a letter CFT-chairman Raymond Gradus More...
Kingdom puts liquidity support on hold
PHILIPSBURG / THE HAGUE — St. Maarten has started to pay out vacation allowances without a positive advice from financial supervisor Cft and without permission from the Kingdom Council of Ministers (KCoM), More...
Audit Chamber gives negative opinion about 2019 financial statements
PHILIPSBURG — The General Audit Chamber confirms in its compliance audit of St. Maarten’s financial statement for the year 2019 what has been a headache ever since the territory obtained autonomy within More...
Cft sounds the alarm again about untenable financial position social funds
PHILIPSUBRG — Financial supervisor Cft expressed serious criticism of St. Maarten’s 2021 budget in a letter from Cft-chairman Prof. Dr. Raymond Gradus to Finance Minister Ardwell Irion on October 13. The More...
Emmanuel: Any recommendation for property tax is dead on arrival
~ Tackle tax reform before Dutch do it for you ~ PHILIPSBURG — Independent Member of Parliament Christophe Emmanuel on Thursday said that the government of St. Maarten has to say once and for all if land More...
Politicians and civil servant must contribute to pension system and SZV-funds, Cft advises
PHILIPSBURG — St. Maarten ought to amend legislation as soon as possible so that civil servants and politicians start paying a 10 percent contribution towards healthcare costs, financial supervisor Cft writes More...
