PHILIPSBURG:---  On April 11, 2024, the Governments of Sint Maarten and Curacao, alongside the Central Bank of Curacao and Sint Maarten, achieved a significant milestone with the signing of the Outline Agreement Resolution ENNIA. This resolution marks a pivotal step in safeguarding the futures of 30,000 policyholders facing the threat of substantial pension cuts.

The Resolution of ENNIA introduces a strategic solution termed a "Partial Restart", aimed at securing the interests of policyholders. Key components of the resolution include:

Separating the life insurance portfolio between ENNIA Life (old) and ENNIA Life (new). Through which:

1. The rights and obligations accumulated from premiums paid before ENNIA was placed under the Emergency Regulation on July 4, 2018, belong to ENNIA Life (old); and
2. the Rights and obligations accumulated from premiums paid (including interest) since July 4, 2018, belong to ENNIA Life (new).

After the split of ENNIA Life, ENNIA Life (old) will be part of a controlled runoff scenario, and ENNIA Life (new), together with the other healthy parts of ENNIA, being ENNIA “Schade”, ENNIA “Zorg”, will be restarted as a competitive insurer, fully capitalized, reorganized, and fully licensed.

This is the Resolution of ENNIA, which is established by the Governments of Sint Maarten, Curacao, and the Central Bank of Curacao and Sint Maarten.

Financial Implications:

Sint Maarten's share in the resolution amounts to 6.49%, committed to contributing NAf 2.08 million annually for 30 years as of 2027, totaling NAf 62.4 million. Curacao's share stands at 93.51%, with a yearly commitment of NAf 30 million for 30 years as of 2027.

The Central Bank pledges NAf 15 million annually for 50 years, derived from interest-generating long-term bonds. The income from these bonds will guarantee an annual distribution of dividends by the Central Bank in the amount of NAf 18.03 million, of which NAf 15 million will be transferred to the Resolution Fund and NAf 3.03 million to Sint Maarten over the coming 50 years, totaling NAf 151.5 million to the coffers of St. Maarten over the said period.

Approvals:

By its advice of January 24, 2024, the Board of Financial Supervision, the CFT, advised the Kingdom Council of Ministers that the proposed “resolution ENNIA” was acceptable. On March 22, 2024, in a press briefing, the State Secretary of the Interior and Kingdom Relations qualified the proposed Resolution for ENNIA to be financially solid and sustainable. This means that once the countries adopt the proposed resolution, the refinancing of the NAf 316.4 million can be agreed upon at a more favorable long-term interest rate. On April 9, 2024, the Council of Ministers of Sint Maarten approved the Resolution of ENNIA. It approved for the Prime Minister and the Minister of Finance to sign the Outline Agreement Resolution ENNIA on behalf of the country, under the reservation that the Parliament of Sint Maarten will approve the Resolution.

This reservation is part of article 14 of the Outline Agreement Resolution ENNIA and of the National Decree, which is signed by the Governor of Sint Maarten on April 9, 2024, based on which the Prime Minister and the Minister of Finance are authorized to sign the Outline Agreement Resolution ENNIA, as was executed on April 11, 2024.

As the agreement contains a long-lasting financial commitment, it is important for Parliament to approve this Resolution, taking into consideration our Constitution regulating the budget authority of the Parliament of Sint Maarten.

On September 27, 2023, Mr. Ardwell Irion, the Minister of Finance, presented in the first central committee meeting with Parliament. The meeting was centered around a former proposed Resolution for a complete restart of ENNIA, involving a capital injection that the Netherlands was willing to lend to Sint Maarten and Curacao. However, this proposal was unsuccessful, particularly for Curacao. It would have led to the violation of the interest burden norm of the Kingdom Act for financial supervision, jeopardizing necessary future capital investments.

On March 18, 2024, the second central committee meeting took place, through which the current Resolution was discussed.

On April 2, 2024, the Minister of Finance provided the Parliament of Sint Maarten with the answers to the outstanding questions. On April 9, 2024, The Minister provided Parliament with the final version of the Outline Agreement Resolution ENNIA to be signed, which was eventually signed on April 11, 2024.

On, Monday, April 15, 2024, the Minister of Finance will be present in Parliament to continue the central committee meeting, after which hopefully, a public meeting will be scheduled on the Resolution of ENNIA. The Parliament of Sint Maarten will review and vote on the resolution, ensuring transparency and democratic oversight. This step underscores the nation's commitment to responsible governance and fiscal prudence.

The most important aspects of this Resolution for Sint Maarten are, firstly that no pensions will be cut from policyholders, which prevents social and economic damages.

Other important aspects are:

• The 50 years of dividend payments from the Central Bank of NAf 3.03 million per year, which over a period of 50 years amounts to NAf 151.5 million to the coffers of Sint Maarten.
• Sint Maarten pays an amount of NAf 2.08 million yearly through the national budget as of 2027, Sint Maarten will have no issues, with the interest burden norm of the Kingdom Act financial supervision, and so necessary future investments are not jeopardized.
• The Netherlands assessed the Resolution as financially solid and sustainable; this means that this year’s refinancing of the NAf 316.4 million will be against beneficial conditions with low interest rates. Without a Resolution ENNIA, an interest rate of 6.9% would likely be applied, like what happened to Aruba. This will inevitably mean an extra yearly interest cost of NAf 11 million (even more expensive than the Resolution of ENNIA).

The Minister of Finance concluded that "the Resolution ENNIA is financially beneficial for Sint Maarten, and it presents a challenge that the incoming Government doesn’t need to deal with. This is in addition to the outgoing Government leaving behind filled coffers for capital investments for projects such as road surfacing and other infrastructure improvements, including the upgrading of our sports facilities, to name a few. The outgoing government also leaves behind a surplus from the budget of 2023, estimated to be NAf 16 million. These were beyond my imagination when I entered office four years ago, dealing with the recovery of Hurricane Irma, managing the Covid-19 pandemic, balancing budgets, finalizing eleven years of financial statements, and accessing capital investments for the first time in over a decade just to name a few. I would like to once again thank the Ministry of Finance for their commitment to our shared vision for Sint Maarten and their continued support throughout the years."

PHILIPSBURG:--- Seasonality is a reality in the Caribbean tourism industry, bringing less demand and lower revenues. The low season calls for a diversification strategy targeting a different customer segment than the traditional vacationing tourists to drive business activities and sales.

‘Bleisure Travel’ and ‘Bizcation’ are growing in popularity as hybrids blending business and leisure travel. Company retreats and trips designed to combine work meetings, team building, developing a company culture, and cross-department deliberations with recreation are also opportunities for a destination to grow business during the low season. Unfortunately, and awkwardly, they are often not pursued.

Corporate and team-building retreats are events where a team gathers outside the usual work environment in an inspiring location to talk business, socialize, and have fun. Most corporate retreats last for a few days, with extra time for travel. Typically, the group will stay at a hotel or a house rental and schedule activities that mix work, dining, and play. As for the latter, they might head to the Caribbean and indulge in some watersports while planning the company’s future.

The promotion of Company Retreats must emphasize the incredibly effective way to connect people and solve challenges. After all, businesses are primarily looking for impact and results. The effect it has is most important to them. The destination is just a pleasant environment for it. This lucrative niche tourism is about hosting a fantastic event that businesses and their employees will love.

So, the tourism offices and hospitality stakeholders have to take a different approach than what they are used to and make product adjustments accordingly. They’re not always easy to plan since one has to virtually get out of the tourism dress and put on casual corporate attire with a business cap on the thinking head, reasoning primarily corporate and secondarily travel leisure. The advice on making a retreat the most valuable may come from an event planning specialist or consultant at the venue or tourism authority who assists in identifying, customizing, and facilitating a company’s distinctive expectations.

They must propose a Company Retreat program that includes pre-planned itineraries and attractive packages that complement the retreat by offering appealing services by partnering with local businesses or professionals. This unusual task may just require that special person to figure out ways to incorporate leisure or relaxation into work and events. As for team-building efforts, it may be called ‘productive play.’

A destination can offer several concepts for different purposes to guide overall goals guide, corporate budget planning, agenda, and finer details. A structure for when the day starts and ends, with required meetings and activities that are blank slots for the company to decide, and scheduled personal time in between downtime to refresh and unwind.

As typical tourism promotions suggest, team-building retreats aren’t just for relaxing under a palm tree at a beach. It needs time and space to introduce or discuss big plans. Retreats often help find breakthroughs and innovative solutions. Challenges will be addressed in an ‘unconference’ style. For instance, a ‘hackathon’ is a session where the group engages in rapid and collaborative planning to come up with fresh ideas for designing a new product or creating a unique service. Include exceptional program options. There should be no hesitation in including a yoga session in the morning or a mediation meeting towards the end of the day.

The program may include seminars by visiting off-island specialists on topics like leadership, customer behavior modification, future trends, and innovation potential. A list of experts should be available for your choice.
The program could include tours or workshops by local professionals or authentic cultural artists to provide a different view on matters contrary to what is normal in the work environment at the business headquarters. The meeting planner at the destination may include some adventure or exploring. Combining work and play is a novel approach, and it can encourage heading in a newfound direction or bring fresh enthusiasm to what you do.
Multinational companies may choose a Caribbean location for a retreat. Participants from various geographically remote locations may meet in person for the first time and shake someone’s hand. It is an occasion to get to know colleagues more profoundly and strengthen bonds. Before departing, give them a high-five for future cooperation before returning home.

The Caribbean Retreat can build up a positive reputation and a different positive image that is highlighted and raved about in specialized industry magazines, which are read by company decision-making executives. This is quite different from the endless reports and reviews in travel magazines. New audiences and new opportunities for growth and reversing the seasonality in the region. It is thinking beyond the box of the conventional tourism and leisure industry. Retreat programs are a new product to focus on.

It will also encourage repeat private visits with family or friends of those who were introduced to the destination during the Retreat. With that in mind, make a photographer and/or videographer available for the event to snap the moments that colleagues of the ‘internal’ team can view without being with the ‘outside’ group. Snaps to share with friends and family afterward and on social media are priceless promotions for the Caribbean destination.

By Cdr. Bud Slabbaert

PHILIPSBURG:--- The House of Parliament will sit in a Central Committee meeting on April 15, 2024. The Central Committee meeting, which was adjourned on March 18, 2024, will be reconvened on Monday at 14.30 hrs. in the Legislative Hall at Wilhelminastraat #1 in Philipsburg. The Minister of Finance will be in attendance. The agenda point is:
Detailed outline of the ongoing ENNIA situation, the proposed ENNIA loan mentioned in the media by State Secretary Van Huffelen, the impact on the national budget, and the Government’s intentions towards the situation in light of the September 30, 2023, deadline (IS/025/2023-2024 dated September 20, 2023)
This meeting was requested by MP M.D. Gumbs, MP. R.A. Peterson and MP L.N.L. de Weever
Members of the public are invited to the House of Parliament to attend parliamentary deliberations. All visitors must adhere to the House rules.
The House of Parliament is located across from the Court House in Philipsburg.
The parliamentary sessions will be carried live on TV 15, Soualiga Headlines, via SXM GOV radio FM 107.9, via Pearl Radio FM 98.1, the audio via the internet www.sxmparliament.org, www.pearlfmradio.sx and www.youtube.com/c/SintMaartenParliament

WILLEMSTAD;---  Mental healthcare (MH) and forensic care (FC) in the Caribbean part of the Kingdom aims to enhance collaboration. Speakers from all parts of the Kingdom will share insights on 'best practices' and challenges within MH and FC during a conference in Curaçao on April 15, 16, and 17.
The signatories of the Four-Party Consultation on Justice and the Four-Country Consultation on Public Health have instructed both the FC and MH working groups to propose ways to improve collaboration in the Caribbean part of the Kingdom. Challenges such as outdated legislation that limits options for care and treatment in mental health forensics are important focal points.
Participants will share experiences, gain inspiration, and meet stakeholders within the mental health forensic care chain. Together, they will make recommendations to improve various forms of mental health forensic care, which will ultimately lead to improving the overall mental health care chain. The outcomes and recommendations of the conference will be presented to the signatories of the Four-Party Consultation on Justice and the Four-Country Consultation on Public Health.
The conference will cover various topics, such as legislative developments on forced MH, FC within detention, outpatient forensic care, addiction care, and aftercare. So far, 125 participants have registered from the Netherlands, Aruba, Curaçao, Sint Maarten, the BES Islands (Bonaire, Sint Eustatius, and Saba), and Suriname.
Dutch Caribbean Mental Health
The conference will also take further steps to strengthen and formalize the collaboration between various MH parties in the Caribbean part of the kingdom into the Federation of Dutch Caribbean Mental Health. This includes the foundations FSMA Respaldo (Aruba), GGZ Curaçao, Brasami (Curaçao), PSI Skuchami (Curaçao), Mental Health Foundation Sint Maarten, and Mental Health Caribbean. The federation aims to promote the quality of mental healthcare on all islands within the kingdom. It will facilitate the exchange of substantive and organizational expertise, particularly in quality and further development, legislation, and education.