PRIME MINISTER ROMEO MARLIN & MINISTER FERRIER WORKING VISIT TO THE NETHERLANDS
THE HAGUE – On Friday afternoon in The Hague Minister of Finance Michael Ferrier and State Secretary Raymond Knops signed off on a 50 Million Guilder loan to Sint Maarten, staving off looming liquidity challenges that Country Sint Maarten would otherwise face shortly.
Minister Ferrier explained that the loan conditions are 0% interest, a term of 30 years, with 25 equal yearly payments of NAFls 2,000,000.00 starting in January of 2023 (5 years from now).
This arrangement puts Country Sint Maarten in a much better position to deal with its financial obligations, especially in the Post Hurricane Irma period, when Government’s income has taken a heavy hit, while expenditures have gone through the roof.
The Government of Sint Maarten sincerely thanks their Kingdom partner for this favorable arrangement in these trying times.