Cifa is concerned about Central Bank

May 26, 2011 4:24 PM

The Curaçao International Financial Services Association (Cifa) is concerned about the current situation with the communal Central Bank of Curaçao and St. Maarten.

According to the board chairperson of the organized interest group for the international financial sector on Curaçao former premier Etienne Ys, it is important that representatives of the government get around the table with Central Bank director Emsley Tromp in the very short term.

On radio station Z-86, Ys responds to Tromp’s statements that had kicked up quite a bit of dust yesterday. The Central Bank director stated that the functioning of the financial institution is made impossible. Yesterday, Tromp spoke of letters from the Central Bank to the government that were not answered, appointments with Minister of Finance George ‘Jorge’ Jamaloodin (MFK) that were cancelled, while he also concluded this year’s budget for the Central Bank budget has not been approved yet, annual accounts were not approved and the Board of Commissioners were not installed yet.

Responding to this while at the local radio station, Ys stated that the Cifa is concerned about the state of affairs with the Central Bank. “The international financial sector has an interest in a strong and well functioning Central Bank. The president director of our Central Bank says it will be difficult to assume the responsibility much longer. This worries us.” The Cifa is also hesitant about the upcoming investigation of the local financial legislation in August by the International Monetary Fund (IMF) amongst others, says Ys.

“When these people are on the island, they will talk to all parties concerned in the sector – including Tromp. Furthermore, they will have already read various publications regarding the developments on the island. When they learn that the president director of the Central Bank states the functioning of the institution is made impossible, we fear this will involve serious consequences for this island.” According to the Cifa chairman, it is important that all parties concerned get around the table as quickly as possible in the interest of the island of the international financial sector.

(Source: National Newspaper Amigoe)

26 May 2011