Sarah questions cancelation of bond issued by Central Bank

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PHILIPSBURG – The terse statement by the Central Bank of Curaçao and St. Maarten that the announced bond issue for St. Maarten had been canceled has not gone unnoticed.

Member of Parliament Sarah Wescot-Williams questioned the Minister of Finance about this cancelation and has forwarded via Parliament the following questions:

“It is reported that the Central Bank of Curaçao and St. Maarten has canceled the bond issue on behalf of St. Maarten and that this was done on request of the Government of St. Maarten, reportedly because ‘the raising of funds through this vehicle is no longer necessary.’

Considering that it was reported that this semi-annual bond was ‘geared to paying off an outstanding balance for projects pre-financed by Windward Roads Infrastructure and MNO Vervat,’ I direct the following questions to you:

“1. Why was this bond issue canceled? Please provide a copy of the cancelation request.

2. What are the outstanding amounts to the contractors mentioned above and for which projects specifically?”

The Member of Parliament concluded with the hope of receiving the Minister’s response post haste.