THE HAGUE - The Netherlands and the Caribbean countries of Curaçao, Aruba, and Sint Maarten have not reached an agreement on converting expiring corona support into long-term loans. Official discussions on terms such as duration, interest, and repayment schedules have not yielded a breakthrough. Concerns have grown in The Hague regarding the attitudes of the CAS governments, which have hindered progress.
The Wever-Croes cabinet in Aruba has refused to collaborate on the establishment of a Kingdom Act for financial supervision, despite previous commitments. The governments in Willemstad and Philipsburg are also perceived as being too passive in preparing for the depletion of Ennia's pension fund. The insurance company was embezzled by its owner, Ansary, an Iranian/American businessman. Although Ansary has been ordered to repay one billion, an appeal is scheduled for June, casting doubt on whether Ennia will recover any funds.
Media reports suggest that State Secretary for Kingdom Relations Van Huffelen has linked an agreement on extending corona loans to financial supervision in Aruba and, concerning Curaçao and Sint Maarten, to the Ennia case.
It is certain that, even with favorable interest rates, the countries will require several decades to repay the loans. The Caribbean nations' desire for partial forgiveness does not appear likely to be granted.