WILLEMSTAD- According to information received, there are problems with Antillean Florin banknotes. Currently there are reserves for only the next 2 years, thus a decision must be made on whether to print new bills or not. In order to make this decision, an evaluation should take place to see in which direction the monetary union between Curaçao and St. Maarten will go.
The Minister of Finance of St. Maarten, Michael Ferrier, made the announcement. In the case it is decided whether to continue with the union of the currency, the Antillean florin contains technical aspects that will require to be evaluated. One of these aspects is that Antillean florin notes are very easy to clone and falsify. Then one must evaluate if money will be invested in printing new bills and even more in a currency that would eventually cease to exist. This is what Ferrier declared.
The Minister of St. Maarten stated that he has made contact with his colleague from the Ministry of Finance of Curaçao, Kenneth Gijsbertha regarding this matter to decide which day the new currency will be introduced.
The Social and Economic Council of St. Maarten in the past has indicated that it would be much better if St Maarten left this monetary union that it maintains with Curaçao. Ferrier said that the Government of St. Maarten is not making great efforts to study and analyze if it wishes to continue with the alliance in the monetary union it shares with Curacao, but given that time is short, he expects that in the coming 3 to 6 months a final decision will be made on the future of St. Maarten’s monetary union.
