Finance Minister updated on CBCS by Board of Directors

from the left are, CBCS Director Jose Jardim, Finance Minister of St. Maarten the honourable Perry Geerlings, newly appointed Branch Manager of the CBCS St. Maarten Raquel Lo Fo Wong, CBCS Director Laila Matroos, Executive Secretary Nihailo Eustachia, and Director in the Cabinet of the Minister of Finance Wilgo Lieveld.


PHILIPSBURG — Members of the Board of Directors of the Central Bank of Curacao and St. Maarten (CBCS) met with St. Maarten Finance Minister the honourable Perry Geerlings on Wednesday this week to provide a status update on the operations and projects planned for the bank.

The meeting is one of several sessions, which takes place periodically within a given year to update governments on both St. Maarten and Curacao of the status of affairs within our Monetary Union. During the meeting, the group had a follow-up discussion on, amongst others, the plans to move from the Netherlands Antilles Guilder Currency to the Caribbean Guilder. This plan to move to the new currency was established by law, since 2010 when the Netherlands Antilles was dismantled and St. Maarten and Curacao obtained Country status.

Minister Geerlings stated that the move to establish a Caribbean Guilder needs proper preparation. It will involve dialogue on the subject with the Governments of Curacao and St. Maarten beginning with the two Ministers of Finance forming the framework for a structured transition with the CBCS guiding the process. The Council of Ministers of both countries will be intimately involved in the process as well.

During the meeting, the Board of Directors of the CBCS took the opportunity to introduce the newly appointed Branch Manager of the CBCS St. Maarten Branch Mrs Raquel Lo Fo Wong to the Finance Minister. Lo Fo Wong was named as Branch Manager of the CBCS office in St. Maarten on March 1st, 2019.

Mrs Lo Fo Wong will be responsible for the St. Maarten branch’s daily operations and will report directly to the Board of Directors. During the meeting, Geerlings extended congratulations and wishes of success to Lo Fo Wong on her new position.