Central Bank will soon not have management board, board refuses to extend the time for at least one member.
PHILIPSBURG:— St. Maarten Finance Minister Richard Gibson Sr is on the verge of asking all board members of the Central Bank to step down if they cannot provide solutions that will avoid having the bank without a management board. He said that the issues of the Central Bank continue to be a challenge. He said the board members need to put their vendetta and personal issues aside and put the interest of the bank first. He said the two Ministers of the two countries cannot act unless they get an advice from the board.
Gibson Sr told reporters that both members board have reached the age where they must step down but since the suspension of the President of the Central Bank the countries Curacao and St. Maarten had no choice but to request the board to extend the time for the two remaining members. He said the five-member board voted three against and two for the extension which leaves an unpleasant situation. He said he has since sent a letter to the board of directors to come up with solutions in order not to leave the bank without a management board, so far he said he did not get a response.
The Minister of Finance said if the situation gets worst he would have no choice but to ask all members of the board to step down and have new members installed.
Source: St. Martin News Network
St. Maarten’s Minister of Finance may have to ask board members of Central Bank to step down.