WILLEMSTAD - In the opinion of Curaçao International Financial Services Association (Cifa), the Curaçao International Financial Center (CIFC), the Chamber of Commerce and the Business Association (VBC), the profile of the one or two candidates for the management of the Central Bank must be "at least" as follows:

- Expert with extensive international experience as a supervisor in the financial sector and / or as part of international institutions such as the IMF, World Bank, DNB, and / or FATF. This experience and having a network within comparable institutions is not only important as relevant expertise and experience but is also essential to restore international confidence in the Central Bank and to receive support in the process of change.

- Expert with experience in managing change processes and managing reorganizations/restructurings within traditional financially oriented institutions and being able to transform these proven into transparent and modern organizations.

- Expert with knowledge of international macroeconomic trends and developments. In recent years there have been major developments in the international financial sector and also within the associated foreign supervisory institutions. A person with this foreign experience is therefore highly recommended to turn the Central Bank into a modern institute that follows current international trends and can help transform the economy of Curaçao, taking into account the worrying situation of the balance of payment.

- The expert must take the international perspective into account, with the primary objective of restoring the segregation between supervision, policy and implementation at CBCS.

- The person or persons should preferably not be local to prevent any perception of local conflicts of interest or political affiliation.

- The appointment must be long enough for the above to be achieved.

The financial institutions in Curaçao made these recommendations through a letter to the Prime Minister and the Minister of Finance.