Willemstad/Philipsburg:---The Centrale Bank van Curaçao en Sint Maarten (CBCS) has recommended the governments of Curaçao and Sint Maarten to invoke article 36 of the Charter for the Kingdom of the Netherlands in order to obtain aid from the Netherlands for financing the national budgets, safeguarding employment, and - if needed - financing the balance of payments.
The foreign exchange reserves are managed by the CBCS, who must ensure a sufficient supply of foreign exchange for the unhampered execution of foreign transactions. By doing so, the confidence in the fixed peg of the NAf to the US dollar can be maintained.
To read more: http://www.smn-news.com/st-maarten-st-martin-news/34536-response-to-media-reports-regarding-foreign-exchange-reserves.html
