THE HAGUE - The financial supervision imposed on Curaçao and Sint Maarten since 2010 will be extended once again, as decided by the Kingdom Council of Ministers (Rijksministerraad) based on the recommendations of an evaluation committee.
The committee found that both countries still do not meet the standards outlined in the Kingdom Act on Financial Supervision. However, it acknowledged the significant economic challenges faced by the nations, particularly during the COVID-19 pandemic, as a mitigating factor.
The decision, made in the absence of State Secretary Szabó, who was on a working visit to Sint Maarten, ensures that the College of Financial Supervision will continue to monitor the budgetary policies of both Curaçao and Sint Maarten until at least 2027.
Financial supervision will only be lifted once both countries demonstrate that their financial management is structurally sound.