Prime Minister Dr Luc Mercelina and Finance Minister Marinka Gumbs with their Curacao counterparts and independent facilitator Prof. Dr. Jaap de Winte.
WILLEMSTAD--The governments of Curaçao and St. Maarten have reached a series of agreements aimed at strengthening the independence and governance of the Central Bank of Curaçao and St Maarten (CBCS), following a bilateral summit in Willemstad.
One of the outcomes of the meeting was the unanimous nomination by the CBCS Supervisory Board of candidates for the position of CBCS President and for two vacancies on the Executive Board. The nominations will now be jointly reviewed by the finance ministers of both countries before formal appointments are made.
During the high-level meeting, Curaçao Minister of Finance Charles Cooper and St. Maarten Minister of Finance Marinka Gumbs agreed on a number of principles designed to enhance governance structures within the CBCS and safeguard the stability of the monetary union shared by both countries.
The discussions were attended by Curaçao Prime Minister Gilmar “Pik” Pisas, St Maarten Prime Minister Luc Mercelina, members of the CBCS Executive Board and Supervisory Board, and were chaired by independent facilitator Prof. Dr. Jaap de Winter.
The summit followed earlier disagreements between the two countries regarding appointments to the CBCS Supervisory Board. Despite those differences, both governments reaffirmed their shared commitment to maintaining an independent central bank and a strong monetary union, describing both as essential pillars of economic stability and resilience.
According to participants, preserving price stability and maintaining a strong and reliable exchange rate remain the central objectives of the monetary union.
The ministers also requested Prof. De Winter to provide advice on various governance models for the chairmanship of the Supervisory Board.
In addition, both parties agreed that strengthening trust, transparency and mutual respect must form the basis of future cooperation. Officials emphasised the importance of establishing clear procedures and accountability mechanisms to ensure effective governance and prevent future disputes.
Another significant development concerns the CBCS office in St. Maarten. Minister Gumbs announced that she will request the Executive Board and Supervisory Board to develop proposals aimed at further strengthening the central bank’s presence and operations on the island.
Both finance ministers described the agreements reached during the summit as an important step toward ensuring a future-proof monetary system and a fully independent central bank.
They stressed that a strong and well-governed CBCS is essential for maintaining confidence in the shared financial infrastructure of Curaçao and St. Maarten and for supporting long-term economic stability in both countries.
