Minister Irion Cancels 75 Million Guilder Bond as Discussions Underway with the Dutch | SOUALIGA NEWSDAY

SINT MAARTEN (POND ISLAND) – The Minister of Finance Ardwell Irion announced that he has requested the Central Bank of Curacao and Sint Maarten (CBCS) to suspend (cancel) the auction (bond).

Sint Maarten is currently in discussions with the Netherlands regarding the refinancing of a loan, which is scheduled to mature on October 21st, 2020.

Sint Maarten has opted to accept the proposal of the Netherlands as outlined in their letter of October 16th, 2020, which will result in the postponement of the maturity date and the avoidance of a technical default.

During the coming four weeks, the Government of Sint Maarten will continue to work on the completion of the process to meet the conditions of the second tranche liquidity support, which can then lead to further discussions on the third tranche liquidity support as well as long-term solutions for expiring loans. 

Source: Souliga Newsday