St. Maarten receives asset share from former Antilles

POND ISLAND–The bank account of government is NAf. 59 million richer with the transfer of the country’s share of the assets of the former Netherlands Antilles by Curaçao last week.

Finance Minister Richard Gibson Sr. jubilantly announced the transfer of the funds in the Council of Ministers Press Briefing on Wednesday, saying he returned home on Friday with a receipt in hand showing the funds were in government’s bank account.

Although a bit richer, government cannot spend the money on new projects. The funds are destined to service government’s debts to the Social and Health Insurance SZV and the General Pension Fund APS. The payments to these two funds have been agreed to by government with the Committee for Financial Supervision CFT.

180319-ENNIA_ENG_SXM-Talks-Banner-Zekerheden-468x60px

Gibson Sr. said getting the funds transferred to the country was a feat “a lot of people were pessimistic about.” They said “it would take many, many years,” but it has not, he said.

Source: The Daily Herald https://www.thedailyherald.sx/islands/66860-st-maarten-receives-asset-share-from-former-antilles

1 COMMENT

LEAVE A REPLY