WILLEMSTAD – The governments of Curaçao and Sint Maarten have reached important agreements aimed at strengthening the independence and governance of the Central Bank of Curaçao and Sint Maarten (CBCS), following a bilateral summit held in Willemstad.
During the high-level meeting, Curaçao's Minister of Finance, Charles Cooper, and Sint Maarten's Minister of Finance, Marinka Gumbs, agreed on a series of principles designed to enhance governance structures within the CBCS and safeguard the stability of the monetary union shared by both countries.
Curacao and Sint Maarten ministers with Prof. Dr. De Winter
The discussions were attended by Prime Minister Gilmar “Pik” Pisas of Curaçao, Prime Minister Luc Mercelina of Sint Maarten, members of the CBCS Executive Board and Supervisory Board, and were chaired by independent facilitator Prof. Dr. Jaap de Winter.
The summit followed earlier disagreements between the two countries regarding appointments to the CBCS Supervisory Board. Despite those differences, both governments reaffirmed their shared commitment to maintaining an independent central bank and a strong monetary union as essential pillars of economic stability and resilience.
According to the participants, preserving price stability and maintaining a strong and reliable exchange rate remain the central objectives of the monetary union.
One of the key outcomes of the summit was the unanimous nomination by the Supervisory Board of candidates for the position of CBCS President and for two vacancies on the Executive Board. The nominations will now be jointly reviewed by both finance ministers before formal appointments are made.
The ministers also requested Prof. De Winter to provide advice on various governance models for the chairmanship of the Supervisory Board. In addition, both parties agreed that strengthening trust, transparency, and mutual respect must form the basis of future cooperation.
Officials emphasized the importance of establishing clear procedures and accountability mechanisms to ensure effective governance and prevent future disputes.
Another significant development concerns the CBCS office in Sint Maarten. Minister Gumbs announced that she will request the Executive Board and Supervisory Board to develop proposals aimed at further strengthening the central bank’s presence and operations on the island.
Both finance ministers described the agreements reached during the summit as an important step toward ensuring a future-proof monetary system and a fully independent central bank.
They stressed that a strong and well-governed CBCS is essential for maintaining confidence in the shared financial infrastructure of Curaçao and Sint Maarten and for supporting long-term economic stability in both countries.