PHILIPSBURG:--- The ongoing debate surrounding the chairmanship of the Central Bank of Curaçao and Sint Maarten (CBCS) has once again centered on the question of “whose turn” it is to propose a candidate. While this discussion has sparked significant public interest, it is crucial to shift focus to the deeper challenges facing our monetary union—challenges that go beyond procedural disputes.

Historical Context

In 2017, Etienne Ys was appointed Chairman of the CBCS, following a recommendation by the Supervisory Board of Directors (SBD). Screening for the position was conducted through Curaçao’s agencies, and his appointment was widely regarded as Curaçao’s candidate under the informal rotational understanding between the two countries.

When Mr. Ys’s term ended in 2021, the SBD, led by Vice-Chair Denis Richardson, recommended his reappointment. However, Mr. Ys withdrew, and the SBD retracted its recommendation. During this period, internal conflicts within the CBCS Board escalated, prompting the Ministers of Finance of Curaçao and Sint Maarten to jointly propose a chairmanship candidate, bypassing the SBD’s recommendation. This approach was endorsed by the Court, with the expectation that board members would either resign or be dismissed.

In December 2021, the SBD (Supervisory Board of Directors) proposed Denis Richardson for the chairmanship. Both Ministers of Finance agreed to this recommendation, and no disputes arose regarding which country had made the proposal. However, Sint Maarten had not yet amended its National Decree (LBHAM) governing the screening of CBCS officers. While screenings were conducted by each country’s agencies in 2017, the procedural steps for Mr. Richardson’s screening were not completed, despite communication between Sint Maarten’s Finance Minister and the SBD.

Faced with a stalemate, Sint Maarten’s Finance Minister initiated a new nomination process, resulting in the proposal of Jairo Bloem.

Key Takeaways from Documentation

1. The 2017 appointment of Mr. Ys was recommended by the SBD and regarded as Curaçao’s candidate.
2. The attempt to reappoint Mr. Ys was treated as Sint Maarten’s candidate but did not materialize.
3. The SBD later recommended Mr. Richardson as the next candidate, with both Ministers agreeing to the proposal, pending procedural screening, which was never completed.
4. Sint Maarten subsequently initiated a new nomination process.

It is important to note that the so-called “rotation” of the chairmanship is not legally codified. It is a matter of practice and political understanding, not a statutory requirement. Framing the current debate solely as a matter of “whose turn it is” oversimplifies a complex institutional process.

The Bigger Picture

While institutional clarity is essential, the real issue lies in the health and effectiveness of the monetary union. Curaçao and Sint Maarten face significant economic and financial challenges that require coordinated policy, regulatory stability, and strong governance at the CBCS.

Public energy would be better directed toward addressing these pressing priorities:

• Resolving structural bottlenecks within the monetary union;
• Strengthening regulatory oversight and financial sector resilience;
• Ensuring transparency, credibility, and institutional stability within the CBCS;
• Safeguarding the shared currency and protecting economic confidence in both countries.

Conclusion

The stability of our monetary union must transcend individual appointments. While leadership is important, institutional coherence, economic resilience, and public trust are paramount. Now is the time to move beyond procedural disputes and focus on fortifying the foundation of our financial systems.

Philipsburg/Marigot:--- On February 26, the Department of Communication of the Government of Sint Maarten paid a working visit to their French side counterparts of the Collectivité of Saint-Martin, Communication Department, which includes the protocol section.

The working visit was to get a deeper understanding of how the French side Department of Communication functions within the Collectivité, to exchange mutual operational information and ideas, and to continue fostering the working relationship.

In their Marigot offices, the head/director of the French side Department of Communication Nathalie Longato gave a short presentation and shared an overview of the work and responsibilities. After doing so, the two departments made informative exchanges of ideas, policies, and procedures.

Following the discussions, the staff of DCOMM was given a tour of the operational section, where demonstrations of what and how takes place with respect to equipment, photo and video tapings, programs, and further discussions about their graphic designs, internet, social media products and operations.

Head of the Communication Department Maurice Lake said, "Our visit to the communications department of the Collectivité of Saint-Martin was an invaluable exercise in synergy and professional exchange.

“It provided a unique platform to align our operational protocols and compare logistical setups, ensuring that both departments are working toward a unified standard of excellence. Beyond the technical discussions on infrastructure and communication workflows, the meeting allowed us to build the interpersonal rapport necessary for seamless cross-border collaboration.

“We left with a deeper understanding of our shared challenges and a strengthened commitment to streamlining our information-sharing processes for the benefit of all our communities."

Both departments exchanged tokens of appreciation.

DCOMM head has extended an invitation to the French side Communication Department for a visit in the near future.

PHILIPSBURG:--- With barely a month left before the current waste management contracts expire, the Ministry of VROMI remains suspiciously silent, leaving contractors in limbo and the country on the brink of a sanitation crisis. The handling of the new garbage collection contracts, set to commence April 1, 2026, has devolved into a spectacle of incompetence, marked by flawed Terms of Reference (TOR), unanswered bids, and a desperate scramble to hide administrative failures.

On January 28, 2026, the bidding process was held, and three participants—All Waste in Place (owned by James Richardson), Garden Boyz (Angelo Gumbs), and West Indies Landscaping (Aaron Peterson)—filed complaints with the Ombudsman. They are sounding the alarm on a rigged or at least deeply flawed system. Despite a total of 17 companies bidding on the contracts, including Meadow Lands and Waste Solutions BV, not a single contractor has received official word on the outcome. Notably, the bids for the contracts amount to 6.8 million Cg annually, raising further questions about transparency and fairness in the process.

This silence is not just negligent; it is dangerous. The current contracts expire on March 31, 2026. Successful bidders need significant lead time to order heavy equipment from overseas to service the new agreement, which runs from 2026 to 2029 with the possibility of two one-year extensions depending on the contractor's performance during the first three years. By withholding results until the eleventh hour, the Ministry is virtually guaranteeing that whoever wins will be set up to fail from day one.

The incompetence runs deeper than just timelines. The Terms of Reference themselves appear to be a masterclass in poor planning. Critical maintenance of garbage bins is reportedly excluded from the TOR entirely. Sources indicate the Minister of VROMI  Patrice Gumbs Jr may be forced to scrap the entire bidding process and start over, an administrative disaster that would leave the island exposed. Even in a redo, we are told, maintenance will still be ignored.

While the Ministry of VROMI dithers, Philipsburg is drowning in filth. The situation has become so dire that the Minister of TEATT has reportedly had to intervene, instructing the Harbor Group of Companies to cover the cost of garbage bags and bins because the government cannot manage its own capital.

Adding insult to injury, the new bins are actually already on the island. Rather than being deployed to clean up the "deplorable" state of the capital, they sit in storage, racking up fees that the taxpayer will inevitably have to pay.

The clock is ticking toward an April 1st deadline that looks less like a start date and more like a cruel April Fool's joke on the people of St. Maarten. With no contracts awarded, no equipment ordered, and a bidding process rife with errors, the government’s mismanagement of something as basic as trash pickup has reached a new low.

Willemstad:--- Emsley Tromp, the former president-director of the Central Bank of Curaçao and Sint Maarten (CBCS), has had his conditional prison sentence upheld in an appeal. Tromp was sentenced to six months of conditional imprisonment, with a two-year probation period, for falsification of documents.

This ruling marks the conclusion of a legal battle that has spanned nearly a decade, leaving a significant impact on both the financial sector and public discourse in Curaçao.

Background of the Case

Tromp first came under judicial scrutiny in 2016 during the "Saffier" investigation, where he faced allegations of tax fraud. He was acquitted of these charges in both the initial trial and the appeal. Subsequently, the "Hercules" investigation focused on corruption allegations, which also resulted in an acquittal. However, the case centered on a 2009 loan agreement remains unresolved.

The court found that a loan agreement, purportedly signed between Tromp and René Lourents, then vice president of CBCS, was falsified. The document was dated May 20, 2009, eight days before the bank actually issued the loan. The court ruled that this misrepresentation undermined trust in financial agreements, particularly given Tromp's position as the head of a central bank.

Misuse of Funds

The loan in question, amounting to $400,000, was ostensibly intended to fund a clothing business for Tromp's then-fiancée, Yanet de Castro. However, the court found that the funds were instead diverted to Tromp's personal accounts. A significant portion of the loan was transferred to Tromp's pension and investment accounts, while $52,000 was used to settle a personal credit card debt. The court concluded that the funds were not primarily intended for De Castro's business, as claimed.

Implications

The court emphasized the gravity of falsifying documents, particularly when such actions are carried out by a central bank president. While Tromp will not serve time in prison, the ruling serves as a stern reminder of the importance of integrity in financial leadership.

This case has drawn widespread attention, highlighting the need for transparency and accountability in financial institutions.