Central Bank meeting with Ministers postponed to May 7th

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PHILIPSBURG - A meeting between the Central Bank and the Ministers of Finance of St. Maarten and Curacao has been postponed.

The meeting was set to take place today but will now take place on May 7th in Curacao stated Minister of Finance Hiro Shegimoto.

A press release from the Minister's office Sunday night confirmed that the meeting requested by Sint Maarten's Minister of Finance Hon. Hiro Shigemoto, with respect to discussing accusations made and current developments surrounding the Central Bank of CuraƧao and Sint Maarten (CBCS), has been rescheduled and a new date proposed, May 7 from April 16th.

During a recent meeting in Curacao with Curacao's Minister of Finance George Jamaloodin, Minister Shigemoto made known Sint Maarten's concerns with respect to the current status quo with the CBCS and that it wasn't in the interests of both countries for things to remain where they are currently at.

The Bank's Supervisory Board of Commissioners and the Directors of CBCS will be meeting on April 21. Minister Shigemoto says that the seven member Supervisory Board as well as the Directors should have an opportunity to discuss matters internally first and he is also hoping that outstanding and pending matters regarding CBCS will be taken care of during the aforementioned meeting such as the issuance of the Harbour Bond, 2012 budget as well as the latest developments in connection with the FCIB case and the Dutch Prosecutor's statements regarding the CBCS's role in this particular case.

"It is imperative that the Supervisory Board takes a position on the issues surrounding the CBCS and whatever that position may be, the Supervisory Board is firstly responsible for the functioning of the Bank through its Directors and the not the Ministers of Finance," Minister Shigemoto pointed out on Sunday.

The Dutch State Secretary for Home Affairs and Kingdom Relations Liesbeth Spies, reportedly stated that decision-taking on the future of CBCS should take place in a tri-partite consultation.

"I do agree with the Dutch State Secretary that there should be a tri-partite consultation on current state of affairs, however we are not at that stage of the process.

"I must also say that it is not up to the Dutch Government to decide for the two countries on this matter," Minister of Finance Hon. Hiro Shigemoto said on Sunday.

Minister Shigemoto pointed out most recently that unsettling issues that have developed in the past months need to be settled once and for all. He added that as long as these issues remain not dealt with, it leaves it open for a cloud of speculation by everyone and, "I am particularly concerned about our international image of the Bank and the country's Sint Maarten and Curacao. We for Sint Maarten do not want any more negativity surrounding us unjustifiably," Minister of Finance Hiro Shigemoto pointed out.

Secondly, Minister Shigemoto is also at the forefront where the independent status of the Central Bank must always be guaranteed; also its role on monetary policy and financial stability, and when it comes to the financial institutions relations with such international bodies as the World Bank and the International Monetary Fund (IMF).

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Last modified on Monday, 16 April 2012 20:41
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