CFT to brief Dutch Second Chamber on Curaçao and St. Maarten


THE HAGUE--Two members of the Committee for Financial Supervision CFT will be briefing the Dutch Parliament's Second Chamber on the financial situation in Curaçao and St. Maarten this Wednesday.

Representing the CFT during the one-hour-long briefing with embers of Parliament's Permanent Committee for Kingdom Relations will be Chairman Professor Age Bakker and Secretary Kees van Nieuwamerongen. The meeting will take place behind closed doors.

Members of Parliament (MPs) had indicated last month that they were very much interested in receiving an update from the CFT on the latest financial and budgetary developments in Curaçao and St. Maarten.

The Dutch Parliament is concerned about the financial situation in the two islands and the difficulties that the governments have had in presenting balanced budgets in a timely fashion. Curaçao had a financial gap last year of some NAf. 160 million, while the 2009 and 2010 annual accounts have shown St. Maarten was NAf. 30 million short in both 2009 and 2010.

Curaçao and St. Maarten have been under financial supervision since they attained country status on October 10, 2010. The supervision is regulated in the Kingdom Law for Financial Supervision.

The financial situation of Curaçao will also be discussed in a Kingdom Council of Ministers meeting this Friday. The extraordinary meeting is being convened at the request of the Dutch Government following the visit of Dutch caretaker Minister of Home Affairs and Kingdom Relations Liesbeth Spies to Willemstad last week.