WILLEMSTAD – A key condition for the continued financial restructuring of the Curaçao Medical Center (CMC) has still not been completed, according to the latest government financial implementation report.
The governance structures of CMC Vastgoed and CMC Exploitatie must be brought into compliance with Curaçao's National Ordinance on Corporate Governance before important parts of the hospital's financial restructuring can move forward.
According to the report, the final legal aspects of the proposed governance changes are still being worked out. Once CMC Vastgoed and CMC Exploitatie agree to the arrangements, a coordinating group must submit its advice to the Council of Ministers.
The Council of Ministers will then have to formally approve the new structure.
The requirement is intended to ensure that the financial restructuring of CMC is accompanied by adequate oversight. The government says compliance with corporate governance rules should provide the necessary checks and balances to safeguard both the interests of the Country of Curaçao and those of the hospital entities.
The issue is particularly important because the restructuring involves capitalization measures and capital injections intended to strengthen the financial position of the CMC entities.
The governance adjustment is not a new requirement. It was previously identified as part of the broader effort to restructure CMC's finances, but the June 2026 implementation report indicates that the process had still not been formally concluded.
This means that while the financial solution for the hospital has largely been designed, an important administrative and legal condition required for its further implementation remains outstanding.
The continued delay also underscores the complexity of resolving CMC's financial position, with the government having to combine substantial financial support with changes intended to strengthen oversight and accountability at the hospital entities.