Hodge to discuss possible split-up of Central Bank

February 26, 2013 10:21 AM

WILLEMSTAD--Curaçao Prime Minister Daniel Hodge is in The Netherlands on a working visit and intends to discuss the monetary union with St. Maarten, he reportedly told the daily Antilliaans Dagblad.

 
In an interview after his arrival, he blames the continued crisis at the joint Central Bank – for two years already – on the structure. In that regard, the prime minister referred to Aruba: "a smaller country and smaller economy, but with its own Central Bank that has functioned perfectly for years already."
 
He said the question must be asked whether Curaçao has to remain in such a relationship with St. Maarten, "when we can see already it's not functioning as we wish and you know things are going fine at the neighbours'. That makes you wonder if we should actually continue with a model which doesn't work."
 
The governing accord of the PS/PAIS/PNP/Sulvaran coalition stated that the monetary union with St. Maarten will be evaluated. Asked if he is leaning towards a split-up, Hodge said, "Maybe."
 
The prime minister does not believe replacing members of the supervisory board of the Central Bank of Curaçao and St. Maarten (CBCS) is the solution. The three board members of Curaçao were appointed by the former Schotte cabinet and are at odds with CBCS president-director Emsley Tromp. "The problem is not the people but the structure."
 
Hodge did not consult with the government in Philipsburg on what he intends to discuss in The Hague regarding this matter. "Our Central Bank is dysfunctional and nobody can be happy with that, including St. Maarten."

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