WILLEMSTAD - The government of Prime Minister Gilmar Pisas has raised concerns about the Netherlands subjecting the financing plan for the Ennia insurance company rescue operation to standard financial oversight regulations. These concerns stem from reservations regarding a proposal presented by Richard Doornbosch, the President of the Central Bank of Curaçao and Sint Maarten (CBCS), which does not instill sufficient confidence in the financial future of Curaçao. The Prime Minister conveyed these concerns in a letter addressed to the Netherlands.
In this communication to State Secretary Alexandra van Huffelen of Kingdom Relations, it becomes apparent that the Curaçao government harbors doubts about the viability of the proposals advanced by the President of the Central Bank of Curaçao and Sint Maarten. The government's primary objective is to secure a guarantee that adequate borrowing capacity remains accessible for conventional government investments.
A significant apprehension revolves around the substantial loan required for the Ennia rescue operation, which is crucial for safeguarding the pension rights of 30,000 policyholders. This loan amounts to an impressive 1.2 billion guilders, raising concerns that it might leave insufficient financial room for other imperative public investments.
During a ministerial meeting on September 28th, Doornbosch provided information about his proposals and financial projections to the Pisas government and the Dutch State Secretary. Initially, the Pisas government offered its conditional approval. Nevertheless, subsequent clarifications highlighted disparities between the recent projections from the Central Bank and earlier commitments, prompting further deliberation.