“Scale and duration of the crisis yet uncertain”
WILLEMSTAD/ PHILIPSBURG:— The Centrale Bank van Curacao and Sint Maarten (CBCS) will actively steer financial institutions towards creating additional buffers in order to withstand the impact of the COVID-19 pandemic on the financial sector.
COVID-19 pandemic has significant social and economic consequences. Drastic measures were inevitable to safeguard public health against a further spread of the virus. “As we cannot foresee when and at what pace the situation will normalize, it is vital that financial institutions take additional – precautionary – measures to maximize their buffers,” according to CBCS acting president