WILLEMSTAD – Curaçao's latest financial implementation report leaves unanswered whether a planned XCG 24 million capitalization involving CMC Exploitatie has actually been completed, despite an earlier expectation that the transaction would be processed before the end of 2025.
The June 2026 report still states that the so-called balance-sheet transaction was expected to be incorporated into the Country's financial administration before the end of 2025.
Because that wording remains in a report issued months after the stated deadline, the document does not make clear whether the transaction was ultimately completed.
The transaction concerns XCG 24 million that is to be processed through the capitalization of CMC Exploitatie as part of the wider financial restructuring of the Curaçao Medical Center.
According to the government, the transaction is carried out through the balance sheet and therefore does not affect the Country's ordinary budget.
However, implementation of the broader financial operation is also connected to changes in the governance structures of CMC Exploitatie and CMC Vastgoed.
Those structures must be brought into line with the National Ordinance on Corporate Governance. The government says the final legal issues are still being worked out, after which the CMC entities must agree and a coordinating group must advise the Council of Ministers.
The Council of Ministers would then have to take a formal decision.
The outdated reference to a year-end 2025 completion date creates uncertainty in the June 2026 report over the current status of the XCG 24 million transaction and whether the financial administration has already been adjusted accordingly.
The issue forms part of a much broader government effort to stabilize CMC's finances while simultaneously strengthening the governance and oversight of the entities responsible for operating the hospital and managing its assets.