WILLEMSTAD – Curaçao’s government accounts differ by a combined XCG 69.8 million from the amounts the Social Insurance Bank (SVB) and General Pension Fund of Curaçao (APC) say they are owed, with the discrepancies still unresolved because supporting documentation has not been fully reconciled.
The largest difference concerns SVB.
According to the government’s financial administration, Curaçao owes SVB XCG 119.9 million. SVB’s 2024 annual accounts, however, record a receivable from the government of XCG 177.3 million.
That leaves a difference of XCG 57.4 million between the two administrations.
A similar, although smaller, discrepancy exists with APC. The government records a debt of XCG 135.9 million to the pension fund, while APC’s 2024 annual accounts show that Curaçao owes XCG 148.3 million.
The difference in that case amounts to XCG 12.4 million.
Together, the two unresolved differences amount to XCG 69.8 million.
The Ministry of Finance says both APC and SVB have provided specifications of their claims against the government, but those figures differ from the government’s own financial administration.
The government says it needs the underlying documents and calculations supporting the outstanding amounts before it can determine which figures should ultimately be recognized.
According to the report, the necessary information was requested in writing from both organizations but had not yet been received at the time the report was prepared.
Until reconciliation takes place, the government has maintained its existing figures. For APC, it continues to use the same amount recorded in the 2023 annual accounts. A similar approach has been taken with SVB, with an adjustment for an outstanding transitional benefit.
The discrepancies do not by themselves establish that either the government or the two funds have incorrectly calculated the debts. They show that significant differences between the respective financial records have yet to be reconciled.