WILLEMSTAD - The Board of Financial Supervision for Curaçao and Sint Maarten (Cft) has raised concerns over the lack of essential details in Curaçao’s third-quarter financial report for 2024. While the country has achieved a preliminary positive financial result through the third quarter and anticipates a surplus by year-end, the Cft has strongly criticized the report for its insufficient substantiation.
The Cft stated that the explanations provided are inadequate for a thorough evaluation of the figures. Additionally, it noted that the budget is outdated, partly because the draft budget amendment for 2024 has yet to be approved by Parliament. As a result, the Cft cannot fully assess whether policy implementation aligns with the budget and the standards of the Kingdom Act on Financial Supervision.
In a letter to Finance Minister Javier Silvania, the Cft has called for improved explanations in future reports and the timely submission of additional information. The board emphasized that these improvements are crucial for effective supervision and for Parliament to exercise its budgetary oversight rights.