THE HAGUE:— On Friday afternoon in The Hague Minister of Finance Michael Ferrier and State Secretary Raymond Knops signed off on a 50 Million Guilder loan to Sint Maarten, staving off looming liquidity challenges that Country Sint Maarten would otherwise face shortly. Minister Ferrier explained that the loan conditions are 0% interest, a term of 30 years, with 25 equal yearly payments of NAFls 2,000,000.00 starting in January of 2023 (5 years from now). This arrangement puts Country Sint Maarten in a much better position to deal with its financial obligations, especially in the Post Hurricane Irma period, when Government’s income has taken a heavy hit, while expenditures have gone through the roof.
Source: St. Martin News Network http://www.smn-news.com/st-maarten-st-martin-news/28457-minister-ferrier-and-state-secretary-knops-sign-50-million-guilder-liquidity-support-loan.html
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