WILLEMSTAD – The Central Bank of Curaçao and Sint Maarten (CBCS) says its newly updated crisis management protocol was successfully tested during two major geopolitical events in 2025, allowing the institution to quickly assess potential risks without activating its full crisis response team.
According to the CBCS 2025 Annual Report, the first test came in January amid rising international tensions involving Venezuela. A second followed in March during the escalation between the United States and Iran.
In both cases, the bank immediately implemented its revised crisis procedures to evaluate the potential impact on the monetary union and the financial system. After conducting comprehensive assessments, the CBCS concluded that the situations did not require the activation of its official crisis management team.
The bank nevertheless described the exercises as valuable, demonstrating that the new protocols enabled a rapid and structured assessment of emerging international risks.
The annual report also outlines broader efforts by the CBCS to strengthen its internal risk management framework.
During 2025, the central bank restructured its risk governance by creating an independent Risk Management Department that reports directly to the Executive Board. The move is intended to improve oversight of financial and operational risks while enhancing the institution's ability to respond to unexpected events.
In addition, the CBCS introduced a new monitoring system that allows senior management to periodically track key risks across the organization. Business continuity plans for critical departments were also updated to ensure that essential banking operations can continue during emergencies.
According to the central bank, these measures are designed to improve institutional resilience, strengthen operational continuity and ensure the CBCS remains prepared to respond effectively to both regional and global developments that could affect the financial stability of Curaçao and Sint Maarten.