Minister of Finance, Honorable Marinka Gumbs, expressed her appreciation for the service and leadership of outgoing President of the Central Bank of Curaçao and Sint Maarten (CBCS), Mr. Richard Doornbosch, recognizing his important contribution to the monetary union and his commitment to strengthening the relationship between the Central Bank and Sint Maarten.
In a farewell address marking Mr. Doornbosch’s departure, Minister Gumbs highlighted his tenure as one characterized by professionalism, stability, sound judgment, and a commitment to public service.
“From the perspective of Sint Maarten, I want to say publicly tonight: you made an effort to ensure that we had that seat, that we had that voice, and that our voice was heard. That deserves our appreciation,” Minister Gumbs stated.
The Minister reflected on the relationship that developed between the Ministry of Finance and the CBCS during Mr. Doornbosch’s tenure. What initially began with both parties carefully assessing one another evolved into a relationship based on trust, open communication, and mutual respect.
Minister Gumbs emphasized that trust between a Minister of Finance and an independent central bank does not require agreement on every issue. Rather, it requires the ability to engage in frank discussions, respect institutional responsibilities, and work toward responsible solutions.
“Trust does not mean always agreeing. It means knowing that when we disagree, we can still sit across the table, speak frankly, respect our respective responsibilities, and find a responsible way forward,” she said.
Sint Maarten’s voice recognized
Minister Gumbs also commended Mr. Doornbosch for treating Sint Maarten as an equal stakeholder within the monetary union and for consistently making room for the country’s perspective in discussions concerning financial stability, economic development, and institutional strengthening.
During his presidency, the CBCS and Sint Maarten engaged on a range of important issues, including financial sector resilience, AML/CFT requirements, modernization of legislation, financial supervision, and the future direction of the monetary union.
According to Minister Gumbs, Mr. Doornbosch’s accessibility and willingness to engage were also important aspects of his leadership.
“When clarification was needed, you provided it. And when difficult discussions had to take place, you did not avoid them. That is leadership,” the Minister stated.
A stronger institution and stronger relationships
Minister Gumbs recognized that Mr. Doornbosch led the CBCS during a period of significant economic, regulatory, technological, and institutional change. Despite these challenges, she noted that he remained focused on strengthening the credibility and independence of the institution while advancing reforms intended to benefit both Curaçao and Sint Maarten beyond his tenure.
“Positions are temporary. Institutions must endure. And one of the true measures of leadership is whether the institution is stronger when you leave than when you arrived. Richard, you leave behind a stronger institution,” Minister Gumbs said.
She further emphasized that Mr. Doornbosch’s legacy extends beyond institutional reforms to the relationships he helped build between the CBCS and Sint Maarten.
“He helped build greater trust between the Bank and Sint Maarten. He strengthened the dialogue between our institutions,” she said.
Minister Gumbs noted that while Curaçao and Sint Maarten may at times have different perspectives and priorities, both countries share a fundamental interest in maintaining a stable currency, a strong financial system, credible institutions, and economic opportunity for their people. A personal note of appreciation
Reflecting on her own relationship with Mr. Doornbosch, Minister Gumbs recalled that he had once told her that when she first became Minister of Finance, he was trying to “gauge” her.
With characteristic humor, she noted that she had been gauging him as well.
“After all these years, the gauging period is officially over,” Minister Gumbs said. “I don’t know what final rating you gave me—and perhaps, in true Central Bank fashion, that information remains confidential. But I can certainly give my assessment of you: A committed public servant. A respected professional. A valued partner. And a friend of Sint Maarten.”
On behalf of the Government and people of Sint Maarten, Minister Gumbs thanked Mr. Doornbosch for his service, leadership, patience, partnership, and commitment to the monetary union.
As he begins his next chapter, Minister Gumbs extended her best wishes to Mr. Doornbosch and his family, including wishes for continued success, fulfillment, and good health.
“Richard, Sint Maarten thanks you. Sint Maarten respects you. And Sint Maarten will always welcome you,” Minister Gumbs concluded.
