Irion calls for meeting on ENNIA restructuring | THE DAILY HERALD

PHILIPSBURG–Opposition Member of Parliament (MP) Ardwell Irion requested a meeting of Parliament inviting Minister of Finance Perry Geerlings concerning the recent developments at the Central Bank regarding the progress on emergency efforts to restructure insurance company ENNIA.

The National Alliance MP wants clarity on the restructuring measures, what effects these will have on the economy and what future risks it will pose. The request was sent to the President of Parliament on Thursday.

“The Central Bank of Curaçao and St. Maarten’s function of supervising, regulating and ensuring financial institutions are safeguarding the interest of stakeholders also comes into question when a matter jeopardises the livelihood of the people. As a government, it is important to protect our local policyholders and keep them informed,” said Irion in a statement noon Sunday.

He said it is worrisome when the group owning property in Mullet Bay, an iconic piece of land, is subject to restructuring and possibly sitting idle while St. Maarten is taking an economic loss due to lack of development during a phase when the country emphasises building back better and becoming more resilient.

Irion is the current Chair of the Committee of Finance and questions the continued

lack of availability by the Minister of Finance. Irion initially requested multiple meetings as early as April 20 this year, when the position was held by then-Minister of Finance Michael Ferrier. The National Alliance has since then requested the follow-up meetings which were postponed by Minister Geerlings in consideration of his adjustment period.

“Without the attendance of the Minister, many urgent topics cannot be finalised nor be called to question. On the agenda for deliberation were 37 budget cuts, However, due to the absence of the Minister prior to the budget debate, nothing could be resolved.

“There was also need for clarity on how Hurricane Irma affected the Pension Fund of St. Maarten and their investment strategies going forward. No update was given on the affordable housing project, which was supposed to have been fast-tracked, in addition to the parking lot that was supposed to start this year,” said Irion. He hopes the meeting will be called as soon as possible.

Source: The Daily Herald