Buncamper writes Irion about effects of remittances on country | THE DAILY HERALD

Recent lines at money transfer service

PHILIPSBURG–United St. Maarten Party (US Party) Member of Parliament (MP) Claudius “Toontje” Buncamper has written Finance Minister Ardwell Irion about the effects of remittances on St. Maarten’s foreign reserves.

Buncamper’s questions stem from the decision of the Central Bank of Curaçao and St. Maarten (CBCS) to place a stoppage on funds in excess of NAf. 150,000 leaving the country at once.  

In a letter dated May 27, sent to Irion via Chairperson of Parliament Rolando Brison, Buncamper expressed concern regarding the effects remittances being sent to family members abroad via local banks and money transfer agencies, would have on the St. Maarten Stimulus and Relief Programme (SSRP).

He further queried if it was “fair practice” to allow monies to leave the country during the current economic crisis, which would affect St. Maarten’s foreign reserves. He also asked if any measures would be taken to minimise or prevent foreign-exchange transactions related to family remittances from leaving the country at this time, until further notice. Buncamper perceives this to be an urgent matter and would therefore appreciate receiving the minister’s response no later than today, Friday, May 29.

Source: The Daily Herald https://www.thedailyherald.sx/islands/buncamper-writes-irion-about-effects-of-remittances-on-country