Temporary provision hearing for St. Maarten is next Thurs.

THE HAGUE–The hearing of the Council of State to handle the request of the St. Maarten Government for a temporary provision of the financial instruction of the Kingdom Council of Ministers will take place Thursday, November 26.

Pending a definite decision on the instruction decree, St. Maarten wants a temporary suspension of the September 8 instruction of the Kingdom Government, which ordered Philipsburg to take a number of measures relating to its finances and the 2015 budget.

The temporary suspension of the instruction has to do in particular with the part of the instruction that states that St. Maarten may not acquire loans for capital investments as long as the country does not comply with the conditions set in the instruction decree. According to St. Maarten, this aspect of the instruction hinders much-needed investments in, among other things, the Tax Department and the Pointe Blanche prison.

Part of the process of the appeal that has been filed for a temporary provision is a public hearing by the Council of State. The date for that hearing, which is expected to be attended by representatives of the St. Maarten Government and the Committee for Financial Supervision CFT, will take place at the Council of State in The Hague on Thursday, November 26.

The September 8 instruction is based on the Kingdom Law for Financial Supervision Curaçao and St. Maarten. The instruction orders Philipsburg to compensate in the budgets of 2015 up to and including 2018 the budget deficits incurred between 2010 and 2014.

Also, St. Maarten must solve its payment arrears, fully incorporate the health care and pension expenditures in the 2015 budget as well as in the multi-annual budget, and take measures to achieve an attainable pension and social security system to prevent new payment arrears.

The St. Maarten Government has appealed the instruction decree to the Crown. The law states that the Advisory Department of the Council of State for the Kingdom is in charge of preparing a draft decree regarding St. Maarten’s appeal, which will be sent to the Crown for ultimate decision-taking. As part of the appeal process, the Council of State will have a hearing with all parties involved.

Source: The Daily Herald Temporary provision hearing for St. Maarten is next Thurs.