PHILIPSBURG--It appears that the envisioned Caribbean Guilder for Cura�ao and St. Maarten will continue to be on the shelf in 2012, as government intends to make arrangements with Cura�ao for the continued use of the Netherlands Antilles guilder.
Governor Eugene Holiday said at the opening of the 2011-2012 Parliamentary Year on Tuesday, that it is recommended that this arrangement be maintained for 2012 to allow the St. Maarten branch of the Central Bank, "to take root and for a careful analysis of the available choices of currency."
The Antillean guilder, pegged to the US dollar, has been in use by the two countries within the Dutch Kingdom since the dismantling of the Netherlands Antilles on October 10, 2010. It was expected that that arrangement would continue until next year when the Caribbean Guilder would come into circulation.
Holiday said that the organisation of the Central Bank of Cura�ao and St. Maarten has "suffered some serious setbacks." For St. Maarten, this meant that the envisaged full-fledged Central Bank branch here has not materialised to date, and that no further joint action on a joint currency has been undertaken.
Holiday said, "Given the rocky start of this joint institution, the government of St. Maarten is of the belief that a separate monetary agency for St. Maarten must be given serious consideration. The scope and form of this agency [Central Bank ed.] will be dependent on the ultimate choice by St. Maarten for its currency."
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