Liquidity Support is Actually Liquidity Debt.

PHILIPSBURG:— COHO is an initiative by the Dutch State that is in contravention to Article 73 of the UN Charter. COHO comes with liquidity support but in actuality, it should be referred to as liquidity debt. These loans are actually placing Aruba, Curacao, and St. Maarten in debt. Under Article 73, the Dutch State has an obligation to ensure our “political, economic, social, and educational advancement, (our) just treatment, and (our) protection against abuses…” Placing the islands in debt is not just treatment nor is it protection from abuse. Incurring more debt is directly opposed to our economic advancement. The question now becomes how long do the islands intend to take on liquidity debt which will inevitably burden our children and young professionals? The Dutch State has admitted that we still fall under Article 73, and it would behoove the Prime Ministers of Aruba, Curacao, and St. Maarten to seek advice from their respective Legal Affairs departments regarding our current status. Our status under Article 73 would mean that we cannot incur any liquidity debt from the Netherlands which would then put less of a burden on our children and young professionals who ultimately have to repay the staggering and insurmountable debt that we are currently being subjected to. If we don’t seek to use the provisions set forth under Article 73, it will have a damning effect on our future generations who will be ultimately tasked with repaying the Dutch State. The Dutch State claims that we are getting liquidity support which is a misnomer. We are actually getting generational debt rather than creating generational wealth.