WILLEMSTAD – The Centrale Bank van Curaçao en Sint Maarten (CBCS) has decided to leave its monetary policy unchanged, citing the monetary union's strong foreign reserve position despite growing uncertainty in the global economy.
The decision was announced following the June 18 meeting of the central bank's Monetary Policy Committee and comes as Curaçao and Sint Maarten continue to benefit from a robust external financial position.
According to the CBCS, gross official reserves have continued to increase sharply during 2026. After rising by Cg 402.4 million in 2025, reserves increased by another Cg 485 million through June 1, 2026.
As a result, import coverage reached 5.5 months at the end of May, well above the international benchmark of three months. The central bank expects the foreign reserve position to remain strong throughout the year, projecting import coverage of 5.3 months by the end of 2026 and an overall increase in reserves of Cg 302.2 million during the year.
The CBCS noted that the strength of the reserve position provides an important buffer for the monetary union, which consists of Curaçao and Sint Maarten.
In line with the U.S. Federal Reserve, which left its benchmark interest rate unchanged on June 17, the CBCS also kept its pledging rate unchanged at 4.25 percent. This maintains a spread of 50 basis points above the U.S. federal funds rate, a policy considered important because the Caribbean guilder remains pegged to the U.S. dollar.
The reserve requirement for commercial banks was also maintained at 18.5 percent. According to the central bank, excess liquidity remains abundant within the banking system, making further adjustments unnecessary at this stage.
The CBCS said it will continue monitoring domestic and international developments closely and stands ready to adjust policy if circumstances require.