Tromp updates ministers about Central Bank issues

PHILIPSBURG--The social economic impact of dollarisation, dissolution of the monetary union, blueprint for the Central Bank of St. Maarten, supervision of the financial sector and the development bank of St. Maarten were among matters discussed when the Council of Ministers met with Central Bank of Curaçao and St. Maarten (CBCS) President Emsley Tromp on Thursday.

Government had requested several months ago that the Central Bank do research into areas of strategic economic importance to the country. "We are very pleased with the information received, as this will assist with decision-making," Finance Minister Hiro Shigemoto said on Tuesday in a government press release.

Tromp also made a presentation to the St. Maarten General Pension Fund and insurance agencies about investing and investment.

While in St. Maarten, Tromp also met with representatives of the Tax Reform Work Group led by Sissy Gonzalez-Fung. Tromp was briefed on progress by the group and his input will be incorporated in the reform exercise.

Tromp stressed the importance of tax policies that encourage greater diversification of the St. Maarten economy and provided insights into inter-island trade issues and how tax policy should be sensitised appropriately to prevent unhelpful distortions of trade among the islands.

He is said to have been very supportive of the reform exercise principles that aim to simplify the tax system and broaden the tax base for St. Maarten.

Follow-up meetings on this topic will be held in the near future.

(The Daily Herald)

15 February 2012

St. Maarten one step closer to averting FATF blacklisting

PHILIPSBURG--St. Maarten came one step closer to being compliant with the Financial Action Task Force (FATF) recommendations and avoiding being publicly listed as a jurisdiction with weak measures to combat money-laundering and terrorism-financing on Friday when Members of Parliament (MPs) unanimously passed the National Ordinance amending the Penal Code in connection with the implementation of some urgent international obligations.

CU wil wet tegen kindermishandeling BES-eilanden

BES EILANDEN - De ChristenUnie wil dat er een nieuwe wet komt tegen kindermishandeling op Bonaire, Sint Eustatius en Saba. De kleinste regeringspartij roept het kabinet op werk te maken van een wet die fysiek en psychisch geweld tegen kinderen ook op de BES-eilanden verbiedt.

Lawyers say the government's appeal in dump case is incomprehensible

PHILIPSBURG--There is still unlawful nuisance and the odour at the sanitary landfill must be removed. The Country St. Maarten considers itself committed to the Fire Suppression Plan but does not want to commit itself to a specific date.