WILLEMSTAD, THE HAGUE - Prime Minister Eugene Rhuggenaath and Undersecretary Raymond Knops of the Interior and Kingdom Relations have signed an agreement on Monday for long-term support and extra supervision from the Netherlands.

The entire process is part of the implementation of the Kingdom Act on the Institution of the Caribbean Reform Entity, which is currently with the Council of State and to which the Curaçao government now agrees. The documentation thereof is still confidential in accordance with the rules.

Curaçao has long opposed the supervisory framework that now regulates supervision in advance by means of an administrative body to be established in the Netherlands.

Other islands

Initially, there was to be one Kingdom Act for Curaçao, Aruba and Sint Maarten, but Aruba has pulled out for the time being and Sint Maarten will not be able to complete the measures necessary for liquidity support.

Curaçao therefore agrees in principle with the concept of the Kingdom Act with the signing. The only obstacle could be the parliament of Curaçao, which must give its approval after each consultation round.

Caribbean OHO

This probably also has consequences for a joint Caribbean Entity that will implement the reform. There will now be a separate entity, only for Curaçao.

Its name was first Caribbean Reform Entity (CHE), but at the request of Curaçao it has been renamed Entity for Reform and Development (OHO).