Oranjestad:---  The Board of Financial Supervision Aruba (CAft) applauds Aruba’s intention to become the first country in the Caribbean part of the Kingdom to implement a clear policy for the management of government participations and dividends. This policy, along with a new code of conduct for corporate governance, may help Aruba to identify financial risks at state-owned companies in an earlier stage, and to achieve more results and social return from these companies. Considering past experiences, in this context, the CAft emphasizes the necessity to actually implement such policy and to apply it in practice.

Participations policy

Companies in which the government holds an interest, are of importance to the Country, but they also entail financial risks, of which the CAft has experienced several examples. At Aruba Wastewater Sustainable Solutions (AWSS), the intention was to take out unnecessary expensive loans; at Utilities, dividends were paid without shareholder approval; and financing and procurement of several large projects at Refineria di Aruba (RdA) took place on unfavorable terms. In the case of the loans at AWSS, timely intervention took place, partly at the CAft's advice. Therefore, it is important that the roles are adequately distributed: the Minister of Finance acts as the owner on behalf of the government, the other Ministers issue orders, and the companies execute them, thereby making it clear who is responsible for what.

Aruba is working on the implementation of a policy for these participations, establishing rules for the payment of dividends. In addition, the country is working on a law on good governance by means of the National Ordinance on Corporate Governance. These frameworks are a solid basis for better management of state-owned companies, provided they are implemented and consistently complied with.

Aside from requesting attention for the government participations, the CAft again draws specific attention to the situation at the Dr. Horacio Oduber Hospital Aruba (HoH), of which, after all, the costs are borne by the government, whilst the government cannot intervene as owner nor shareholder. This entails considerable financial risks, and the CAft urges the government to reach a solution with the hospital and the owner.

Legislative Proposal Kingdom Act on Sustainable Government Finance (RHOFA)

With RHOFA, Aruba faces an important choice. The RHOFA and its corresponding National Ordinance offer a framework for financial supervision and generate interest benefits for Aruba. The RHOFA allows for cheaper refinancing of foreign loans with the Netherlands, and Aruba can register for new loans with the Netherlands to finance investments. This may lead to an interest benefit for Aruba of up to AWG 60 million per year, which is more than AWG 500 per Aruban citizen.

Financial management

The CAft applauds the progress Aruba is making when it comes to clearing the backlog with regard to the annual accounts. The Court of Audits of Aruba has now received all annual accounts up to and including 2024. The reports on the implementation of policy are also up-to-date. Now that the backlog is cleared, the focus must be on enhancement of the reporting quality. Aruba faces considerable challenges in this regard.

On February 26 and 27, the CAft visited Aruba. During this visit, the CAft spoke to the Governor, the Ministers of Finance, Economic Affairs, Justice, Integration and Public Transportation, with the Council of Ministers, the Parliament of Aruba, the Court of Audits of Aruba and companies such as Utilities and Refineria di Aruba.

The Department of Statistics records all visitors (including transfers) arriving at the St. Maarten Princess Juliana International Airport and refers to them as Air . Due to St. Maarten’s unique location, some travellers use it as a hub to reach nearby islands, including French St. Martin. The full implementation of the new digital immigration system has improved the accuracy of arrival data; however, certain limitations remain, such as the inability to distinguish between transfer passengers, residents, or European citizens, which affects the completeness of detailed Passenger Arrival statistics. The Department of Statistics no longer uses the term “Stay-over visitors,” as it does not fully capture the true nature of all air tourism in St. Maarten.

Passenger Arrivals Results

• The year overview indicates that total Air for 2025 amounted to 855,994. Quarter 1 (Q1) recorded 256,923 arrivals, representing 30% of the annual total. Quarter 2 (Q2) followed with 209,877 arrivals (24.5%), while Quarter 3 (Q3) accounted for 168,915 arrivals (19.7%). Quarter 4 (Q4) recorded 220,279 passenger arrivals by air, representing the remaining 25.7% of the total market share for the year.

• The North American market, comprising the United States and Canada, recorded a combined total of 541,615 air passenger arrivals, representing approximately 63.3% of total arrivals in 2025.
• Of this total, the United States, our largest source market, accounted for 462,038 arrivals, representing 53.9% of the overall market and approximately 85.3% of the North American market. The U.S. averaged over 45,000 passengers per month by air.

• The European Union, our second-largest market, recorded 221,179 air passenger arrivals, representing approximately 25.8% of total arrivals in 2025.

Within the EU market, France emerged as the leading source country with 87,952 passengers, accounting for approximately 39.8% of the EU market and 10.3% of total air arrivals. The Netherlands followed closely with 85,741 passengers, representing approximately 38.8% of the EU market and 10.0% of total arrivals.

• Continuing with the other regions, the Caribbean recorded a total of 43,986 air passenger arrivals, representing approximately 5.1% of total arrivals in 2025, with a monthly average of over 3,500 passengers.

The Central and South America region accounted for 25,484 arrivals, representing approximately 3.0% of the total market, averaging more than 2,000 passengers by air per month, with August emerging as the peak travel month.

• The Rest of the World recorded a total of 15,730 air passenger arrivals, representing approximately 1.8% of total arrivals in 2025, with a monthly average exceeding 1,200 passengers.

Cruise Arrivals Results

• Cruise visitors to St. Maarten recorded a total of 1,597,940 in 2025. Of this total, the First Quarter (Q1) accounted for 635,968 visitors, representing 39.8% of annual cruise arrivals. The Second Quarter (Q2) recorded 236,391 visitors (14.8%), while the Third Quarter (Q3) accounted for 164,881 visitors (10.3%). The Fourth Quarter (Q4) contributed 560,700 visitors, representing 35.1% of the total cruise market for the year.
• Growth was recorded in every quarter (2025) relative to the previous year (2024): 11% in Q1, 14% in Q2, 23% in Q3, and 22% in Q4, resulting in an overall 16% increase.
• Cruise calls are nearing the pre-Hurricane Irma milestone of 600, with all high-season months surpassing the previous year’s figures.
• Comparing cruise calls from 2024 (513) to 2025 (592) shows an addition of 79 ships, representing a 15% increase.
• In the fourth quarter, cruise arrivals grew by nearly 100,000 tourists—a 22% increase over the same period in 2024—bringing the total for 2025 to over 220,000 more cruise passengers than in 2024.

Should you have any questions, please do not hesitate to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.. A copy of this report will also be published on the STAT website at stats.sintmaartengov.org.

PHILIPSBURG:--- Reigning Calypso King Edsel “Yaadfowl” Eusebius, who stunned audiences last year by capturing the crown on his very first attempt in the Nagico Senior Calypso Competition, will now face a wave of challengers as Carnival 2026 heats up.

A field of 20 Calypsonians is preparing to battle for a place in the finals, with the calypso eliminations scheduled for Saturday, March 21, 2026, at the Aleeze Convention Center. The event will determine which performers move on to the final round in Carnival Village, where they will compete for the opportunity to dethrone the reigning monarch.

According to the St. Maarten Carnival Development Foundation (SCDF), only ten performers will advance from the eliminations to the finals, making the March 21 showdown a critical stage in this year’s competition.

The released lineup of singers seeking a place in the finals includes: The Mighty Dando, The Mighty Dow, The Mighty Chipman, The Wizard, Bongo, Penshonair, King Barrow, Ebony Empress, Shadezz, Lady Baker, Pepper, The Protege, Young Dow, Fish Da Mega Boss, Ashayna, Empress Zee, Dr. Jones, Clifton Wilson, Baker Jr and Empress Eunia.

SCDF is encouraging all calypso lovers to come out and support the event, describing the eliminations as much more than a qualifying round.

“Last year, we did not have enough registrants to host an elimination round, so we went straight to the finals. This year, for the 55th anniversary of Carnival, we are very happy that so many singers are back and ready to battle for a spot in the final ten. This is not a show you will want to miss,” SCDF said.

The Foundation said the strong turnout this year is especially meaningful as St. Maarten prepares to celebrate the 55th anniversary of Carnival, with renewed energy across the calypso arena and a larger field of contenders eager to make their mark.

With Yaadfowl returning as the man to beat, and a competitive slate of performers now preparing to take the stage, the eliminations are expected to deliver an exciting night of music, commentary, and lyrical battle as the road to the Calypso crown officially begins.

PHILIPSBURG — The investigation into disturbing allegations of abuse involving two prominent local physicians has taken a new turn, with the younger suspect facing extended detention while his father has been released under strict conditions.
A judge has ordered that Dr. Danny Dennaoui remain in pretrial detention for an additional eight days. The decision comes as detectives continue to build their case regarding accusations of kidnapping, torture, and severe ill-treatment of a domestic employee.
The ruling to extend the younger doctor's custody underscores the seriousness of the allegations and the ongoing nature of the inquiry. Prosecutors successfully argued that his continued detention is necessary for the investigation to proceed without interference.
This development follows the release of his father, Dr. Michael Dennaoui, earlier this week. The senior physician was released from police custody solely due to medical reasons. The Prosecutor’s Office has made it clear that, despite his release, Dr. Michael Dennaoui remains a primary suspect in the case and remains subject to legal proceedings.
The investigation, launched by the Police Force of Sint Maarten (KPSM), centers on a formal complaint filed by the doctors’ former maid. The victim alleges she was held against her will, injected with some sort of drug and antedote, and threatened with a weapon by her employers. According to preliminary reports, the violence allegedly stemmed from an accusation that the employee had stolen $50,000 from the household.
Detectives are reportedly working swiftly to gather evidence and conduct further interviews to corroborate the victim's account of the ordeal.
KPSM has reiterated that this is a highly sensitive and active case. Authorities are urging the public to allow the legal process to unfold as they work to ensure justice is served for all parties involved.