PHILIPSBURG--May 7 is now the new date for the meeting between Finance Minister Hiro Shigemoto and Curaçao Finance Minister George Jamaloodin on developments related to the Central Bank of Curaçao and St. Maarten (CBCS). The meeting was originally to be held today, Monday, but has been put off to give the bank's Supervisory Board of Commissioners and Directors an opportunity to internally review matters.
Shigemoto had requested the meeting when they met back in March with Jamaloodin about St. Maarten's concerns about status quo at CBCS. He pointed out that it was not in the interests of both countries for the current state of affairs to continue.
The seven-member Supervisory Board and directors will meet on April 21 to discuss matters internally. Shigemoto hopes that outstanding matters will be taken care of, such as the issuance of the Harbour Bond, 2012 budget for the bank, and the latest developments with the First Curaçao International Bank (FCIB) case and the Dutch Prosecutor's statements about CBCS's role in the case.
"It is imperative that the Supervisory Board takes a position on the issues surrounding the CBCS and whatever that position may be, the Supervisory Board is firstly responsible for the functioning of the Bank through its Directors and not the Ministers of Finance," Shigemoto said in a press statement Sunday evening.
As long as these issues are not dealt with, the situation is "open for a cloud of speculation by everyone. I am particularly concerned about our international image of the Bank and the countries. We, St. Maarten, do not want any more negativity surrounding us unjustifiably," the minister said.
Dutch State Secretary for Home Affairs and Kingdom Relations Liesbeth Spies had said on Friday that any decision on the future of CBCS should take place in a tri-partite consultation.
Shigemoto said: "I do agree with the Dutch State Secretary that there should be a tri-partite consultation on current state of affairs, however we are not at that stage of the process. I must also say that it is not up to the Dutch Government to decide for the two countries on this matter."
He added that the independent status of the Central Bank must always be guaranteed as well as its role on monetary policy and financial stability and relationship with financial institutions such the World Bank and the International Monetary Fund (IMF).
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