GEBE Supervisory Board Directed to Resign Amid Growing Criticism.

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01 August 2025
Last Updated: 01 August 2025
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PHILIPSBURG:--- The Government of St. Maarten has made a bold move by instructing the Supervisory Board of NV GEBE, the island’s sole electricity and water provider, to step down immediately. At least two board members have confirmed the directive, which could mark a turning point for an organization struggling with trust and operational challenges.

The decision comes as the utility company continues to face fallout from a severe cyberattack in 2022, which disrupted operations for months. Even two years later, sporadic billing errors and unresolved account issues are causing widespread frustration among customers. Thousands remain in limbo, waiting for clarity on their accounts.

Adding to these issues is the board’s apparent resistance to adopting key recommendations from the Regulatory Authority Council (RAC). Proposals aiming to make electricity more affordable, including revising the fuel clause and lowering rates, have reportedly been met with inaction. This perceived lack of urgency has only deepened public mistrust.

Tensions between the board and Prime Minister Dr. Luc Mercelina have also been in the spotlight, particularly over his push to appoint Jeffreyson Paris as Interim Manager of NV GEBE. The board’s leadership faced additional backlash after approving $15,000 for an interview between interim CEO Thomas Roggendorf and USA Today. While this interview was reportedly aimed at boosting tourism, critics questioned its necessity at a time when utility-related issues remain unresolved. However, sources have said that the Interim CEO allegedly said he was instructed by the Prime Minister to conduct the interview with the US-based media, as it would boost tourism on St. Maarten.

The breakdown in collaboration between the government and the board has created a governance standoff that appears unsustainable. Sources suggest the government’s resignation directive is part of a larger strategy to rebuild public trust in NV GEBE through greater transparency, accountability, and technical expertise. Appointing a new board with a clear mandate is seen as a critical first step toward achieving these goals.

Although most of the current board members’ terms run until 2027, with one exception due to expire later this year, their immediate compliance with the government’s directive remains uncertain. Failure to resign voluntarily could prompt the government to explore legal measures to enforce its decision.

The current board was originally installed under a previous National Alliance-led administration, but increasing public dissatisfaction has fueled calls for change. Since assuming office in late 2024, the Council of Ministers has tackled significant national challenges. The move to replace the GEBE board aligns with their broader efforts to address critical public service issues.

For citizens of St. Maarten, this change represents a pivotal moment. The lingering questions are whether this transition will bring about the long-awaited improvements in utility services and whether the new leadership will restore faith in NV GEBE. All eyes will undoubtedly remain focused on how the government manages this transformation and what it means for the future of public utilities on the island


Centrale Bank van Curaçao en Sint Maarten Publishes 2024 Annual Report.

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01 August 2025
Last Updated: 01 August 2025
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~Strong Growth and Solid Results~

WILLEMSTAD/PHILIPSBURG:---In a year marked by global challenges, the Centrale Bank van Curaçao en Sint Maarten (CBCS) made significant strides in strengthening financial sector supervision, modernizing the payment system, and securing an adequate solution for Ennia’s policyholders. In its recently published 2024 Annual Report, the CBCS reports a historically high profit of Cg 46.6 million. The report provides a comprehensive overview of the CBCS’s governance, strategy, operations, and financial position as of December 31, 2024. The strong financial performance is attributed to a significant increase of over Cg 33 million in net interest income and a rise of nearly Cg 18 million in investment returns. The higher interest income is partly due to an increase in invested assets. A portion of the gold reserves was sold and reinvested in long-term U.S. government bonds. However, due to the sharp rise in gold prices, by the end of 2024, the gold supply had rebounded to nearly the same level as before the sale. The enhanced investment returns also reflect the CBCS's proactive and targeted investment strategy. In addition to these financial results, the CBCS also achieved solid results regarding its core mandates. In recent years, significant progress has been made in strengthening the supervision of the financial sector in Curaçao and Sint Maarten. In June, the CBCS published the final report of the first phase of its Financial Sector Reform Program. Key milestones were achieved, including the introduction of an early warning monitoring system, the publication of annual financial stability reports, the establishment of a deposit guarantee scheme, the careful resolution of legacy issues related to Girobank and Ennia, the launch of a new risk-based supervisory approach, the strengthening of CBCS internal governance, and open, transparent communication with all stakeholders. By the end of 2024, there were 400 institutions under the supervision of the CBCS. In 2024, the CBCS also took important steps to strengthen financial stability further. Early in the year, it released the third edition of its Financial Stability Report, which was recognized at a regional seminar hosted by the Caribbean Regional Technical Assistance Centre (CARTAC) as a model for other central banks in the Caribbean region. The CBCS also actively shared its expertise with peer supervisory authorities in the region, such as in the areas of stress testing and financial sector resilience. Finally, the CBCS established the Innovation Office, intending to promote financial inclusion and innovation. The Caribbean guilder reached a significant milestone with the unveiling of the official designs and the launch of a national awareness campaign, while internally, the CBCS further strengthened its programs in the areas of cybersecurity, sustainability, and staff development. These results underscore the CBCS’s commitment to stability, resilience, and innovation. A recent stakeholder satisfaction survey indicates that these efforts have contributed to increased confidence in the CBCS’s performance. The survey results indicated a positive perception of the CBCS, with 91% of respondents expressing a (relatively) favorable view, and 86% reporting confidence in the organization. As we look ahead to 2025, the Bank will continue to focus on maintaining a stable exchange rate, fostering a sound and reliable financial sector, and ensuring a secure and accessible payment system that supports sustainable economic growth for the people of Curaçao and Sint Maarten. The complete text of the 2024 Annual Report is available on the CBCS website at: https://www.centralbank.cw/publications/annual-report/2024.

 

 

Willemstad, August 1, 2025

CENTRALE BANK VAN CURAÇAO EN SINT MAARTEN

Suspect Arrested Following Vehicle Fire at Airport.

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01 August 2025
Last Updated: 01 August 2025
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burntcars01082025PHILIPSBURG:---- Police are investigating a vehicle fire that took place around 2:15 AM on Wednesday, July 30, in the employee parking lot of Princess Juliana International Airport. One car was fully engulfed in flames, and three others nearby were also damaged (two of these cars destroyed). The Fire Department quickly brought the fire under control. No injuries were reported.

On Thursday, July 31, around midday, officers arrested a male suspect with the initials D.D.J.  at his home on suspicion of arson and property destruction. He is currently being held at the Philipsburg Police Station for questioning.

Anyone with information is asked to contact KPSM at +1 (721) 542-2222 or via the anonymous tip line 9300

Suspect Arrested with Firearm on Tassel Road

Around noon on July 31st, 2025, officers of the Sint Maarten Police Force (KPSM) responded to a report of a disturbance on Tassel Road involving a young male suspect.

Upon arrival, officers encountered the landlord of an apartment complex, who reported that a male individual had broken a window and made serious threats. Based on the information received, officers launched an investigation and were informed that the suspect may be carrying a firearm.

While being searched, officers discovered a black-colored firearm in his bag. The suspect, with initials D.P-C., was immediately arrested and transported to the Philipsburg Police Station, where he remains in custody for further questioning.

KPSM continues to warn the public about the possession of illegal firearms and the danger they pose to the safety and well-being of our communities.

 

KPSM Press Release.


Customs Department intercepts illegal firearms during routine shipment inspection.

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31 July 2025
Last Updated: 31 July 2025
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customs31072025PHILIPSBURG:--- On Tuesday, July 29th, attentive officers from the Customs Department discovered several illegal firearms hidden within one of the selected consignments during a routine inspection of shipments from a local shipping company. This discovery was part of the Department’s ongoing risk-based enforcement operations, which aim to safeguard national security and protect the public from illicit trade. The illegal items were promptly seized in accordance with national laws and established procedures. As the investigation is still in its early stages, further details regarding the shipment and the individuals involved cannot be disclosed at this time. Updates will be provided as the inquiry progresses, in coordination with other law enforcement agencies. The Customs Department reaffirms its unwavering commitment to upholding the law and protecting our borders from illegal activity. Members of the public are encouraged to report any suspicious behavior that may threaten the safety and security of our nation.

The preliminary GDP for 2023 is estimated to increase by 3.4%

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31 July 2025
Last Updated: 31 July 2025
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gdp31072025PHILIPSBURG:--- The Department of Statistics (STAT) reports that Gross Domestic Product (GDP) in constant prices for the year 2023 is estimated to have grown by 3.4 percent, while GDP at current prices increased by 6.3 percent.

  • Current Prices = Good for showing actual income/value in a given year.
  • Constant Prices = Good for comparing volume growth over time. (factors out inflation)

The most significant contributions to the estimated constant GDP growth in 2023 came from:

  • Accommodation and Food Services: Up by 6 percent, attributed to a 6 percent increase in tourist "person-nights". (Arrivals multiplied by length of stay)
  • Water Supply, Sewerage, Waste Management, and Remediation Activities: Increased 11 percent.
  • Transportation and Storage: Rose by 7 percent, due to increased activity at the port and airport.

Other sectors showing notable growth include:

  • Construction: Expanded by 6 percent, consistent with findings from the annual National Accounts Survey (NAS).
  • Arts, Entertainment, and Recreation: Increased by 6 percent, also consistent with the growth in tourist person-nights.

For 2022, revised data now places real GDP growth at 16.0 percent, up from the previously estimated 13.9 percent.

With technical support from the International Monetary Fund’s Caribbean Regional Technical Assistance Center (CARTAC), STAT undertook a comprehensive review of its data sources. Based on CARTAC’s advisement, updated methodologies and high-frequency indicators were implemented to improve the accuracy and responsiveness of national accounts. These improvements represent a strategic shift away from reliance on the National Accounts Survey, allowing for the use of more timely and reliable data sources. While the NAS will continue to be used for sectors such as (construction, transportation, professional services, administrative services.)  where no alternative indicators exist, its scope has been significantly reduced. These enhancements are part of STAT's ongoing efforts to modernize the National Accounts Program and improve its accuracy and timeliness. It is important to note that while this methodology is new to STAT, it aligns with international best practices and is already widely adopted by many regional and global statistical agencies.

That said, there may still be instances where STAT requests the cooperation of businesses to provide financial statements or complete the National Accounts Survey. This supplementary information remains essential in ensuring the accuracy, completeness, and overall quality of the national accounts.

Looking ahead, STAT is also exploring the integration of International Merchandise Trade Statistics (IMTS) through the ASYCUDA system. Once implemented, this system will support the production of key indicators of economic activity by industry, further enhancing the relevance and depth of national accounts. Additionally, STAT is actively strengthening collaboration with key partners, including the Central Bank, the Customs department, and other relevant government departments. Accessing administrative data from these institutions is in line with international best practices and will significantly improve the overall quality of Sint Maarten’s national statistics.

One of the most critical outputs of the National Accounts is the Gross Domestic Product (GDP) figure. GDP is not just a statistical measure. It plays a vital role in national development. It serves as a key tool for policymakers in planning and allocating resources, for investors in assessing the economic performance and potential of the country, and for local organizations in guiding strategic decision-making and identifying market opportunities.

In closing, the Department of Statistics would like to extend its sincere appreciation to all stakeholders and survey respondents for their continued support and timely cooperation. The data we collect, whether through National Accounts surveys or requests for financial statements, is essential for producing accurate and reliable economic indicators. We encourage ongoing participation and support from the business community and the general public, as this collective effort contributes directly to the development of high-quality national statistics.

For more information or to view the latest National Accounts tables, please visit the official website of the Department of Statistics: http://stats.sintmaartengov.org.

Sources of information include the Sint Maarten Population 2022 and Tourism Exit Survey Results; the 2024 Economic Census Survey; the Labour Force Survey, Tourism Exit Survey (TES), and Consumer Price Index (CPI). Additional data were obtained from the Centrale Bank van Curaçao en Sint Maarten (CBCS); GEBE; the St. Maarten Hospitality and Trade Association (SHTA); Princess Juliana International Airport Exploitatiemaatschappij N.V. (PJIAE); the St. Maarten Harbour Port Authorities; and various large establishments operating in St. Maarten.

 

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  1. SMMC celebrates World Breastfeeding Week 2025.
  2. Police Investigate Crash into Win-air Building.
  3. Guyana Honorary Consul Pays Working Visit to Anguilla.
  4. "Prime Minister Mercelina’s Tone-Deaf Tirade: A Masterclass in Hypocrisy and Deflection".

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