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Country ‘substantially complied’ with 2015 Kingdom instructions

09 MARCH 2017

POND ISLAND–Government has “substantially complied” with the 2015 instructions issued by the Dutch Kingdom Government to get the country’s financial house in order. This was communicated to the Kingdom Council of Ministers on March 2 by the Committee for Financial Supervision CFT.

Finance Minister Richard Gibson Sr. told the press on Wednesday that the CFT assessment is “something we can celebrate” as a country.

However, the country is yet to comply fully with the fourth instruction to take measures to make its health and pension systems financially viable. Gibson Sr. said this can only be finalised with legislation for which preparatory work has started. CFT has given Government until the end of this year to get the legislation to Parliament for its approval.

Health and Social Development Minister Emil Lee said the process with the legislation is ongoing and involves “many moving parts” to get the National Health Insurance (NHI) plan to Parliament. Chief among the steps are consultations with stakeholders; these are ongoing.
The other three instructions to Government were to compensate for all past deficits in current budgets, to make all health and pension premiums part of the country’s expenses and to resolve all back payments on delinquent accounts.

Source: The Daily Herald, St. Maarten

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