Curaçao and St. Maarten agree to strengthen Cbcs’ independence

The governments of Curaçao and St. Maarten recently held a bilateral summit in Willemstad, reaching agreements to strengthen the independence and governance of the Central Bank of Curaçao and St Maarten (CBCS). Prime Minister Dr. Luc Mercelina and Finance Minister Marinka Gumbs, along with their Curaçao counterparts, participated. A key outcome was the unanimous nomination by the CBCS Supervisory Board of candidates for the CBCS President and two Executive Board vacancies. These nominations will now be jointly reviewed by the finance ministers of both countries prior to formal appointments. The agreements aim to enhance governance structures within the CBCS and safeguard the stability of the monetary union.