PHILIPSBURG:--- On the occasion of the International Day of Parliamentarism, the President of Parliament of Sint Maarten delivered a compelling address reflecting on fifteen years of the country’s parliamentary democracy.

In her remarks, the President acknowledged the strides Sint Maarten’s Parliament has made since 2010 but also pointed candidly to the challenges that continue to undermine public trust, including party hopping, weak coalition frameworks, and outdated electoral systems.

“Fifteen years ago, we dreamed of a Parliament that would stand strong for the people,” the President said in her speech. “And yes, we have made strides. But we must also be honest with ourselves: too often, the trust that should firmly connect this Parliament to the people feels strained and uncertain. The next fifteen years must not look like the last — they must be better.”

Highlighting the need for decisive electoral and constitutional reform, the President urged Members of Parliament and the wider public to focus on building systems that protect the voice of the people and support long-term national development.

Key reforms emphasized include measures to discourage party hopping, a review of the proportional representation system, and a commitment to more transparent and principled politics.

“Reform should never protect Parliament from the people — it must protect the people’s voice inside Parliament,” the President affirmed.

Looking ahead, the President called on all branches of government and society to embrace openness, transparency, and genuine dialogue as Sint Maarten navigates challenges such as climate change, digitalization, and economic diversification.

The speech marks both Sint Maarten’s recognition of the International Day of Parliamentarism and a milestone celebration of fifteen years since the establishment of its Parliament.

WILLEMSTAD:--- The Algemene Rekenkamer of Curaçao (ARC) is stepping up its efforts to monitor how public funds are managed and spent. In its 2024 annual report, the ARC outlined new strategies and priorities that place transparency and accountability at the center of its work. Central to this approach is the expansion of effectiveness studies—deep analyses that determine not just whether government money is used as intended, but also whether those expenditures truly achieve their goals.

Strategic Oversight of Public Funds

According to the ARC, achieving sound financial governance requires more than traditional audits. Their new direction will rely on systematic effectiveness studies that go beyond simple numbers to evaluate if policies and programs deliver tangible value for the community. By examining every major initiative through the lenses of Economy, Efficiency, and Effectiveness—the “three Es”—the ARC aims to provide a complete picture of government spending.

This strategic focus ensures that every guilder spent by the government is subject to scrutiny. By highlighting whether projects meet their promises and budgets are managed wisely, the ARC provides parliamentarians and policymakers with the factual insights needed to oversee public expenditure responsibly.

Increasing Transparency and Accountability

One of the ARC’s primary objectives is to enhance the transparency of public funds stewardship for both decision-makers and citizens. Their rigorous effectiveness studies reveal how money allocated to different projects is being utilized and whether the expected outcomes are being achieved. Through their detailed, high-quality reports, the ARC sheds light on risk areas and inefficiencies, enabling both the public and parliament to hold the government accountable.

The ARC also actively promotes awareness among parliament members regarding their critical role in Curaçao’s governance. By providing actionable information and clear findings, the ARC empowers leaders to make informed decisions, ensuring that taxpayer money is protected and utilized productively.

Challenges and Commitment

While the ARC is committed to its watchdog function, it faces significant staffing challenges. Operating with less than half of its formal staff capacity, the organization has had to balance its expanded ambitions with limited resources. Despite this, the ARC continues to find ways to maximize impact, focusing its reduced workforce on the most pressing risk areas related to government expenditure.

Budget constraints have compelled the ARC to utilize its resources with utmost care, ensuring that the resources it does have are dedicated to thorough and meaningful analyses. Recruitment remains a priority, as strengthening the team will be crucial to expanding the scope and depth of government spending oversight in the years to come.

The Road Ahead

Looking to the future, the ARC’s approach to monitoring and evaluating government spending will serve as a foundation for better governance in Curaçao. Their effectiveness studies will continue to assess whether public funds are spent wisely and goals are reached, and their transparent reporting will foster trust and engagement among stakeholders.

By holding the government accountable and enabling data-driven decisions, the ARC is playing a crucial role in ensuring that every public guilder is spent for the benefit of Curaçao’s society

The Hague:--- While President Trump left The Hague after the NATO summit on Wednesday evening, entrepreneurs and professionals gathered at the Cabinet of the Minister Plenipotentiary of Curaçao for an inspiring networking event organized by the Caribbean Business Hub (CBH).

The evening was opened by chairman Nico de Visser, who emphasized CBH's ambitions: stimulating entrepreneurship, from inspiring circular projects and investment funds to innovative (franchise) formulas on all the Caribbean islands and Latin America. CBH achieves this by informing, facilitating, supporting, and most importantly, matching. New is their online marketplace for business acquisitions, financing requests, and real estate opportunities. Personal contact remains the beating heart of their approach during networking events.

Next year, the ambition will grow further when CBH organizes the Caribbean & Latin Village: a large fair for entrepreneurs, franchisees, hospitality tycoons, real estate agents, service companies, stakeholders, and investors. Exhibitors and sponsors can already respond now.

Architect George Polman, director of AG Architects in Haarlem, the Netherlands, gave an impressive keynote, which he began in Papiamento – a powerful signal about the importance of cultural alignment in international business. He presented very inspiring megaprojects on Bonaire. They range from exclusive, colorful villas and mansions in Caribbean style to creating new destinations for old buildings, as well as high-quality social housing with the same characteristic look. According to George Polman, social enterprises have a significant positive impact on society. By also building high-quality homes for the less fortunate, the gap between rich and poor is narrowed.

Then, Mrs. Penningston pitched her Curaçao company, a striking example of Caribbean entrepreneurship making the leap to the European market. She talked about Blue Curaçao liqueur, which was invented and developed on the island itself in 1896. The tamarind liqueur, their tropical surprise, was also presented during the liqueur tasting.

The evening was concluded by Minister Plenipotentiary Carlson Manuel, who encouraged attendees to actively seek opportunities on the islands and emphasized that entrepreneurs are welcome on all the Caribbean islands, particularly on Curaçao.

With a tropical buffet, good conversations, and a constructive atmosphere, the event was once again a success. The next CBH networking event is scheduled for Tuesday, September 30, 2025.

~Ensuring depositors receive their funds up to the protected amount~

WILLEMSTAD/PHILIPSBURG:---  As of today, July 1, 2025, the Deposit Guarantee Scheme (DGS) for Curaçao officially enters into force. With this milestone, depositors in Curaçao are now formally protected under a statutory deposit guarantee scheme, further strengthening public trust and promoting financial stability. The DGS protects depositors in the event that a credit institution is no longer able to meet its obligations. Deposits at credit unions are protected up to a maximum of Cg 25,000 per account holder, per credit union. For deposits at other credit institutions, such as banks and savings funds, the maximum is Cg 50,000 per account holder, per credit institution. Depositors do not need to take any action to benefit from this protection. Coverage is automatic, and all eligible deposits held at credit institutions are protected by law. The introduction of the DGS Curaçao follows international developments and best practices aimed at strengthening financial sector resilience, ensuring depositor protection, and safeguarding economic stability. By offering this safety net, the DGS reinforces depositor confidence in the financial system. The Centrale Bank van Curaçao en Sint Maarten (CBCS) is currently developing the DGS for Sint Maarten in close collaboration with the Ministry of Finance of Sint Maarten. This scheme will provide the same level of protection to account holders with credit institutions operating in Sint Maarten. The CBCS is responsible for the implementation of the DGS. The operational execution of the scheme is carried out in collaboration with the currently being established Foundation Deposit Guarantee Fund (DGF), which manages the funds reserved to compensate eligible depositors. The CBCS will continue to work closely with credit institutions and other stakeholders to inform the public about the functioning and benefits of the DGS. To support this effort, the CBCS has launched an official DGS website. For more details, please visit https://dgs.cw/ or contact the DGS information desk via This email address is being protected from spambots. You need JavaScript enabled to view it.. To further enhance public understanding, the CBCS will launch a public awareness campaign in Q3 this year.

Willemstad, July 1, 2025

CENTRALE BANK VAN CURAÇAO EN SINT MAARTEN