Abstract
KINGDOM OF THE NETHERLANDS—CURAÇAO AND SINT MAARTEN
Title page
KINGDOM OF THE NETHERLANDS—CURAÇAO AND SINT MAARTEN
STAFF REPORT FOR THE 2022 ARTICLE IV CONSULTATION DISCUSSIONS—INFORMATIONAL ANNEX
July 11, 2022
Prepared By
The Western Hemisphere Department
(In consultation with other departments)
Contents
FUND RELATIONS
STATISTICAL ISSUES
COLLABORATION WITH OTHER INTERNATIONAL FINANCIAL INSTITUTIONS
Fund Relations
The 2022 Article IV consultation discussions with Sint Maarten were held in Philipsburg during May 11–17, 2022 and with Curaçao in Willemstad during May 19-25, 2022. They form part of the Article IV consultation with The Kingdom of the Netherlands. The Curaçao team comprised Dmitriy Kovtun (head), Thomas Dowling, Daniel Jenya, and Atsushi Oshima, (all WHD). The Sint Maarten team comprised Kevin Wiseman (head), Thomas Dowling, Daniel Jenya, and Atsushi Oshima, (all WHD). Kevin Wiseman participated in discussions related to the Curaçao and Sint Maarten monetary union in Willemstad. Carlijn Eijking (OED) participated in the discussions. Grey Ramos and Tianle Zhu provided valuable assistance.
Membership Status: The Kingdom of the Netherlands is an original member of the Fund. On February 15, 1961, the Kingdom of the Netherlands accepted the obligations of Article VIII, Sections 2, 3, and 4 of the Articles of Agreement for all territories.
Kingdom of the Netherlands: The Financial Position in the Fund as of June 30, 2022
| General Resources Account: | SDR Million | Percent of Quota |
| Quota | 8,736.50 | 100.00 |
| IMF Holdings of Currency | 6,495.07 | 74.34 |
| Reserve Tranche Position | 2,243.01 | 25.67 |
| Lending to the Fund | ||
| New Arrangement to Borrow | 61.30 | |
| SDR Department: | SDR Million | Percent of Allocation |
| Net cumulative allocation | 13,210.17 | 100.00 |
| Holdings | 13,481.43 | 102.05 |
| General Resources Account: | SDR Million | Percent of Quota |
| Quota | 8,736.50 | 100.00 |
| IMF Holdings of Currency | 6,495.07 | 74.34 |
| Reserve Tranche Position | 2,243.01 | 25.67 |
| Lending to the Fund | ||
| New Arrangement to Borrow | 61.30 | |
| SDR Department: | SDR Million | Percent of Allocation |
| Net cumulative allocation | 13,210.17 | 100.00 |
| Holdings | 13,481.43 | 102.05 |
Outstanding Purchases and Loans: None
Latest Financial Arrangements:
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| Stand-By | Sep 12, 1957 | Mar 12, 1958 | 68.75 | 0.0 |
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| Stand-By | Sep 12, 1957 | Mar 12, 1958 | 68.75 | 0.0 |
Overdue Obligations and Projected Payments to Fund 1/
(SDR Million; based on existing use of resources and present holdings of SDRs):
| Forthcoming | |||||
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | |||||
| Charges/Interest | 0.17 | 0.17 | 0.17 | 0.17 | |
| Total | 0.17 | 0.17 | 0.17 | 0.17 | |
| Forthcoming | |||||
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | |||||
| Charges/Interest | 0.17 | 0.17 | 0.17 | 0.17 | |
| Total | 0.17 | 0.17 | 0.17 | 0.17 | |
Implementation of HIPC Initiative: Not Applicable
Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
Implementation of Catastrophe Containment and Relief (CCR): Not Applicable
As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust.
Exchange Rate Arrangements: The exchange rate arrangement is a conventional peg arrangement. The Netherlands Antillean guilder has been pegged to the U.S. dollar at NAf 1.79 per US$1 since 1971.
On March 23, 2020, in order to reduce the risk of capital outflows, the Central Bank of Curaçao and Sint Maarten (CBCS) suspended the extension of foreign exchange licenses for the following transactions equal or exceeding NAf 150,000:
(i) Extension of a loan to a nonresident.
(ii) Transfers to own foreign bank account by legal entities.
(iii) Transfers to current account with foreign related companies by legal entities.
(iv) Transfers by individuals to their private foreign bank account.
(v) Investments abroad.
(vi) Participation in a foreign company by a resident.
(vii) Distribution of dividends or profits to nonresidents.
(viii) Early redemption of loans received.
Limitation on distribution of dividends or profits to nonresidents gave rise to an exchange restriction under Article VIII, Section 2(a) of the Fund’s Articles of Agreement.
The CBCS eliminated these measures in January 2022 given the improvement in the international reserve position.
Last Article IV Consultation Discussions: The Executive Board concluded the 2021 Article IV Consultation Discussions with Curaçao and Sint Maarten on July 29, 2021, on the basis of IMF Country Report No. 2021/186.
Technical Assistance (2019–June 2022):
Curaçao
1. Curaçao customs: strengthening risk management capacity and developing a trusted trader program (CARTAC, June 2019)
2. Tax administration modernization through implementation of a new tax information system (CARTAC, July/August 2019)
3. Public financial management: developing the internal audit function (CARTAC, August 2019)
4. Government financial reporting and government financial statistics (CARTAC/STA, September 2019)
5. Tax policy (FAD, October 2019)
6. Fiscal risks (CARTAC, April 2020)
7. Macro modeling (CARTAC, February 2021, June 2021, March 2022, and April 2022)
8. Tax Administration: Organizational Structure and Institutional Arrangements (CARTAC, November 2020-April 2021).
9. Customs administration (CARTAC, follow-up, May 2021)
10. Price statistics (STA, September 2021)
11. National Account statistics (STA, September 2021)
Sint Maarten
1. Macro-fiscal framework (WHD, May 2019, November 2019, July 2020, and December 2020)
2. Scoping mission in tax administration and customs areas (CARTAC, November 2019)
3. Tax upgrade and financial management (CARTAC, February 2020)
4. Cleaning of taxpayer registration database (CARTAC, March 2020)
5. National account statistics (CARTAC, October 2020)
6. Tax policy (FAD, March 2021)
7. National Account statistics, follow-up (August 2021)
8. Cleaning taxpayer database (November, December 2021)
9. IT investment planning for sustainability (March - April 2022)
10. Price statistics (March – April 2022)
Union
1. IFRS implementation (CARTAC, May 2019)
2. Monetary policy instruments and domestic debt market (MCM, October-November 2019)
3. Contingency planning (MCM, December 2019)
4. Banking supervision and regulation: Basel II-III implementation (CARTAC, January 2020)
5. External statistics (CARTAC, January 2020)
6. Contingency planning for crisis preparedness and management and deposit insurance (MCM, follow-up, March 2020)
7. Contingency planning for crisis preparedness and management and deposit insurance (MCM, follow-up, October 2020)
8. Emergency liquidity assistance (MCM, November 2020)
9. Central bank governance (MCM / LEG, January – February 2021)
10. Foreign reserve management (MCM, April 2021)
11. Central Bank governance (MCM, July 2021)
12. Risk-Based Supervision implementation (CARTAC, December 2021)
13. Basel II-III implementation (CARTAC, March – April 2022)
14. Financial Soundness Indicators (STA, April 2022)
Statistical Issues
(As of June 30, 2022)
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision has serious shortcomings that hamper surveillance. Response rates in statistical surveys such as national accounts, balance of payments (BoP), and international investment position (IIP) are low. National Accounts and price data need to improve in terms of timeliness and quality. Both countries should start compiling and reporting fiscal data in alignment with the Government Finance Statistics Manual 2014 (GFSM 2014). Core and additional Financial Soundness Indicators (FSIs) should be compiled and reported not only for the Union but also separately for Curaçao and Sint Maarten. | |
| Curaçao | |
| National accounts: Data are compiled by the Central Bureau of Statistics (CBS). The CBS compiles annual current price estimates of GDP by economic activity (GDP-P) and by expenditure (GDP-E), as well as other aggregates up to net lending/borrowing. Final survey-based national accounts for Curaçao are available only through 2017. For 2018-21, the CBS produced indicator-based preliminary estimates for GDP-P. GDP in constant prices is derived by deflating nominal GDP by the CPI due to the lack of the deflators. The CBS are now working on the development of improved methods of deflation, and plan to prepare an experimental constant prices GDP series during 2022. | |
| Price statistics: Curaçao compiles monthly CPI data with the base year of 2019. Measures of core inflation are not compiled. Due to resource constraints, data for January-April 2022 were not collected and CPI was not compiled. Curaçao does not compile a producer price index or export/import price indexes. | |
| Government finance statistics: The Ministry of Finance of Curaçao provides fiscal data that can broadly be bridged to the cash framework of the GFSM format. Fiscal reporting standards follow national presentations, and some improvements are needed in mapping and consolidating fiscal data according to the GFSM 2014 standards. The authorities should compile and publish the fiscal data in line with GFSM 2014 and report it to the IMF Statistics Department (STA). The authorities’ reports do not consolidate the social security schemes administered by the SVB. | |
| Sint Maarten | |
| National accounts (Sint Maarten): Data are compiled by the Department of Statistics (STAT). STAT compiles annual current price estimates of GDP-P and GDP-E. In the aftermath of the 2017 hurricanes, the final survey-based data were delayed. In May 2020, STAT disseminated revised GDP estimates for 2014 to 2018, after rebasing from 2011 to 2014. CARTAC technical assistance mission (October 2020) reviewed the new data and found significant room for improving the methodology. Based on this assistance, in March 2022 STAT published constant price GDP in 2018 prices. Further CARTAC assistance in April 2022 was provided to improve the basis of imputation for non-response to the national accounts survey. STAT plan to implement these further improvements before the GDP estimates for 2018-2021 are updated later in 2022. GDP estimates in this report reflect 2019-20 real growth rates estimated by STAT but retain staff estimates for the deflators, which are expected to be in the direction of the planned improvements expected later this year. | |
| Price statistics: Sint Maarten compiles a quarterly CPI. Measures of core inflation are not compiled. STAT released the quarterly CPI with the base year of 2018=100, although the series are not linked to the old data and therefore inflation data for 2018 are not available. Due to the pandemic, the STAT could not collect sufficient source data to compile the CPI for January through April 2021, and thus published some estimates of the price index for this period. Sint Maarten does not compile a producer price index or export/import price indexes. | |
| Government finance statistics: The Ministry of Finance of Sint Maarten provide fiscal data that can broadly be bridged to the cash framework of the GFSM format. Fiscal reporting standards follow national presentations, and some improvements are needed in mapping and consolidating fiscal data according to the GFSM 2014 standards. The authorities should compile and publish the fiscal data in line with GFSM 2014 and report it to the IMF Statistics Department (STA). The authorities’ reports do not consolidate the social security schemes administered by the SZV. There are large discrepancies between the stock of government liabilities in the annual financial statements that only are produced with a long lag and the operational debt data from quarterly reports, causing large ex-post revisions. | |
| The Monetary Union of Curaçao and Sint Maarten | |
| Monetary and financial statistics (MFS): The CBCS compiles regular monetary and financial statistics. The CBCS has submitted Union-level MFS, starting in 2016, based on the Standardized Report Forms (SRFs), as recommended in the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG), for review by STA. Separate SRFs for Curaçao and Sint Maarten are not compiled. Data on other depository corporations include only commercial banks (excluding credit unions and savings banks), and data for other financial corporations, including international (offshore) financial institutions (banks and insurance) which hold significant amounts of financial assets, are not reported. The implementation of a new Chart of Accounts Reporting System for credit institutions in July 2016 resulted in a structural break in MFS. FSIs are provided on staff request but are not reported to STA on a regular basis for publication on the IMF’s FSI website. The first Financial Stability Report published a limited set of FSIs separately for Curaçao and Sint Maarten. Bank lending and borrowing interest rates are not reported. | |
| External sector statistics: BoP data are reported to STA on a quarterly basis and IIP data on an annual basis. Data are reported following the sixth edition of the Balance of Payments and International Investment Position Manual, but a key deviation is that offshore sector (flexible corporate structures with little or no physical presence) is not covered. The published IIP data are outdated due to low response rate and there are significant stock-flow inconsistencies between the BoP and the IIP. Monthly data on the official reserves position are reported to STA with a lag of one month. Authorities also report weekly international reserve data on their national website. In addition, the authorities participate in the Coordinated Direct Investment Survey and Coordinated Portfolio Investment Survey. | |
| II. Data Standards and Quality | |
| Not an Enhanced General Data Dissemination System participant. | No data ROSC is available. |
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision has serious shortcomings that hamper surveillance. Response rates in statistical surveys such as national accounts, balance of payments (BoP), and international investment position (IIP) are low. National Accounts and price data need to improve in terms of timeliness and quality. Both countries should start compiling and reporting fiscal data in alignment with the Government Finance Statistics Manual 2014 (GFSM 2014). Core and additional Financial Soundness Indicators (FSIs) should be compiled and reported not only for the Union but also separately for Curaçao and Sint Maarten. | |
| Curaçao | |
| National accounts: Data are compiled by the Central Bureau of Statistics (CBS). The CBS compiles annual current price estimates of GDP by economic activity (GDP-P) and by expenditure (GDP-E), as well as other aggregates up to net lending/borrowing. Final survey-based national accounts for Curaçao are available only through 2017. For 2018-21, the CBS produced indicator-based preliminary estimates for GDP-P. GDP in constant prices is derived by deflating nominal GDP by the CPI due to the lack of the deflators. The CBS are now working on the development of improved methods of deflation, and plan to prepare an experimental constant prices GDP series during 2022. | |
| Price statistics: Curaçao compiles monthly CPI data with the base year of 2019. Measures of core inflation are not compiled. Due to resource constraints, data for January-April 2022 were not collected and CPI was not compiled. Curaçao does not compile a producer price index or export/import price indexes. | |
| Government finance statistics: The Ministry of Finance of Curaçao provides fiscal data that can broadly be bridged to the cash framework of the GFSM format. Fiscal reporting standards follow national presentations, and some improvements are needed in mapping and consolidating fiscal data according to the GFSM 2014 standards. The authorities should compile and publish the fiscal data in line with GFSM 2014 and report it to the IMF Statistics Department (STA). The authorities’ reports do not consolidate the social security schemes administered by the SVB. | |
| Sint Maarten | |
| National accounts (Sint Maarten): Data are compiled by the Department of Statistics (STAT). STAT compiles annual current price estimates of GDP-P and GDP-E. In the aftermath of the 2017 hurricanes, the final survey-based data were delayed. In May 2020, STAT disseminated revised GDP estimates for 2014 to 2018, after rebasing from 2011 to 2014. CARTAC technical assistance mission (October 2020) reviewed the new data and found significant room for improving the methodology. Based on this assistance, in March 2022 STAT published constant price GDP in 2018 prices. Further CARTAC assistance in April 2022 was provided to improve the basis of imputation for non-response to the national accounts survey. STAT plan to implement these further improvements before the GDP estimates for 2018-2021 are updated later in 2022. GDP estimates in this report reflect 2019-20 real growth rates estimated by STAT but retain staff estimates for the deflators, which are expected to be in the direction of the planned improvements expected later this year. | |
| Price statistics: Sint Maarten compiles a quarterly CPI. Measures of core inflation are not compiled. STAT released the quarterly CPI with the base year of 2018=100, although the series are not linked to the old data and therefore inflation data for 2018 are not available. Due to the pandemic, the STAT could not collect sufficient source data to compile the CPI for January through April 2021, and thus published some estimates of the price index for this period. Sint Maarten does not compile a producer price index or export/import price indexes. | |
| Government finance statistics: The Ministry of Finance of Sint Maarten provide fiscal data that can broadly be bridged to the cash framework of the GFSM format. Fiscal reporting standards follow national presentations, and some improvements are needed in mapping and consolidating fiscal data according to the GFSM 2014 standards. The authorities should compile and publish the fiscal data in line with GFSM 2014 and report it to the IMF Statistics Department (STA). The authorities’ reports do not consolidate the social security schemes administered by the SZV. There are large discrepancies between the stock of government liabilities in the annual financial statements that only are produced with a long lag and the operational debt data from quarterly reports, causing large ex-post revisions. | |
| The Monetary Union of Curaçao and Sint Maarten | |
| Monetary and financial statistics (MFS): The CBCS compiles regular monetary and financial statistics. The CBCS has submitted Union-level MFS, starting in 2016, based on the Standardized Report Forms (SRFs), as recommended in the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG), for review by STA. Separate SRFs for Curaçao and Sint Maarten are not compiled. Data on other depository corporations include only commercial banks (excluding credit unions and savings banks), and data for other financial corporations, including international (offshore) financial institutions (banks and insurance) which hold significant amounts of financial assets, are not reported. The implementation of a new Chart of Accounts Reporting System for credit institutions in July 2016 resulted in a structural break in MFS. FSIs are provided on staff request but are not reported to STA on a regular basis for publication on the IMF’s FSI website. The first Financial Stability Report published a limited set of FSIs separately for Curaçao and Sint Maarten. Bank lending and borrowing interest rates are not reported. | |
| External sector statistics: BoP data are reported to STA on a quarterly basis and IIP data on an annual basis. Data are reported following the sixth edition of the Balance of Payments and International Investment Position Manual, but a key deviation is that offshore sector (flexible corporate structures with little or no physical presence) is not covered. The published IIP data are outdated due to low response rate and there are significant stock-flow inconsistencies between the BoP and the IIP. Monthly data on the official reserves position are reported to STA with a lag of one month. Authorities also report weekly international reserve data on their national website. In addition, the authorities participate in the Coordinated Direct Investment Survey and Coordinated Portfolio Investment Survey. | |
| II. Data Standards and Quality | |
| Not an Enhanced General Data Dissemination System participant. | No data ROSC is available. |
Curaçao and Sint Maarten: Table of Common Indicators Required for Surveillance
(As of June 30, 2022)
Bank deposit/lending interest rates are not compiled.
The Sint Maarten Department of Statistics is compiling CPI data on a quarterly basis.
The general government data defined as the central government and the social security funds are not compiled.
Including currency and maturity decompositions.
The external debt data are not compiled, but it can be derived from the international investment position.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Curaçao and Sint Maarten: Table of Common Indicators Required for Surveillance
(As of June 30, 2022)
| Date of Latest Observation | Date Received | Frequency of Data | Frequency of Reporting | Frequency of Publication | |
| Exchange Rates | Current | Current | Daily and Monthly | Daily and Monthly | Daily and Monthly |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities | June 2022 | June 2022 | Weekly and monthly | Weekly and monthly | Weekly and monthly |
| Reserve/Base Money | March 2022 | June 2022 | Monthly | Monthly | Monthly |
| Broad Money | March 2022 | June 2022 | Monthly | Monthly | Monthly |
| Central Bank Balance Sheet | March 2022 | June 2022 | Monthly | Monthly | Monthly |
| Consolidated Balance Sheet of the Banking System | March 2022 | June 2022 | Monthly | Monthly | Monthly |
| Interest Rates 1/ | … | … | N/A | N/A | N/A |
| Consumer Price Index: Curaçao | Dec. 2021 | Feb. 2022 | Monthly | Monthly | Monthly |
| Consumer Price Index: Sint Maarten | Q4/2021 2/ | May 2022 | Quarterly | Quarterly | Quarterly |
| Revenue, Expenditure, Balance and Composition of Financing—General Government 3/ | … | … | … | … | … |
| Revenue, Expenditure, Balance and Composition of Financing—Central Government: Curaçao | March 2022 | May 2022 | Monthly | Monthly | Monthly |
| Revenue, Expenditure, Balance and Composition of Financing—Central Government: Sint Maarten | Q4 2021 | March 2022 | Quarterly | Quarterly | Quarterly |
| Stocks of Central (or General) Government and Central-(or General-) Government guaranteed debt: Curaçao 4/ | March 2022 | May 2022 | Monthly | Monthly | Monthly |
| Stocks of Central (or General) Government and Central-(or General-) Government guaranteed debt: Sint Maarten 4/ | Q4 2021 | March 2021 | Quarterly | Quarterly | Quarterly |
| External Current Account Balance | Q4 2021 | June 2022 | Quarterly | Quarterly | Quarterly |
| Exports and Imports of Goods and Services | Q4 2021 | June 2022 | Quarterly | Quarterly | Quarterly |
| GDP/GNP: Curaçao | 2021 | June 2022 | Annual | Annual | Annual |
| GDP/GNP: Sint Maarten | 2018 | May 2020 | Annual | Annual | Annual |
| Gross External Debt 5/ | … | … | … | … | … |
| International Investment Position 6/ | 2019 | June 2021 | Annual | Annual | Annual |
Bank deposit/lending interest rates are not compiled.
The Sint Maarten Department of Statistics is compiling CPI data on a quarterly basis.
The general government data defined as the central government and the social security funds are not compiled.
Including currency and maturity decompositions.
The external debt data are not compiled, but it can be derived from the international investment position.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Curaçao and Sint Maarten: Table of Common Indicators Required for Surveillance
(As of June 30, 2022)
| Date of Latest Observation | Date Received | Frequency of Data | Frequency of Reporting | Frequency of Publication | |
| Exchange Rates | Current | Current | Daily and Monthly | Daily and Monthly | Daily and Monthly |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities | June 2022 | June 2022 | Weekly and monthly | Weekly and monthly | Weekly and monthly |
| Reserve/Base Money | March 2022 | June 2022 | Monthly | Monthly | Monthly |
| Broad Money | March 2022 | June 2022 | Monthly | Monthly | Monthly |
| Central Bank Balance Sheet | March 2022 | June 2022 | Monthly | Monthly | Monthly |
| Consolidated Balance Sheet of the Banking System | March 2022 | June 2022 | Monthly | Monthly | Monthly |
| Interest Rates 1/ | … | … | N/A | N/A | N/A |
| Consumer Price Index: Curaçao | Dec. 2021 | Feb. 2022 | Monthly | Monthly | Monthly |
| Consumer Price Index: Sint Maarten | Q4/2021 2/ | May 2022 | Quarterly | Quarterly | Quarterly |
| Revenue, Expenditure, Balance and Composition of Financing—General Government 3/ | … | … | … | … | … |
| Revenue, Expenditure, Balance and Composition of Financing—Central Government: Curaçao | March 2022 | May 2022 | Monthly | Monthly | Monthly |
| Revenue, Expenditure, Balance and Composition of Financing—Central Government: Sint Maarten | Q4 2021 | March 2022 | Quarterly | Quarterly | Quarterly |
| Stocks of Central (or General) Government and Central-(or General-) Government guaranteed debt: Curaçao 4/ | March 2022 | May 2022 | Monthly | Monthly | Monthly |
| Stocks of Central (or General) Government and Central-(or General-) Government guaranteed debt: Sint Maarten 4/ | Q4 2021 | March 2021 | Quarterly | Quarterly | Quarterly |
| External Current Account Balance | Q4 2021 | June 2022 | Quarterly | Quarterly | Quarterly |
| Exports and Imports of Goods and Services | Q4 2021 | June 2022 | Quarterly | Quarterly | Quarterly |
| GDP/GNP: Curaçao | 2021 | June 2022 | Annual | Annual | Annual |
| GDP/GNP: Sint Maarten | 2018 | May 2020 | Annual | Annual | Annual |
| Gross External Debt 5/ | … | … | … | … | … |
| International Investment Position 6/ | 2019 | June 2021 | Annual | Annual | Annual |
Bank deposit/lending interest rates are not compiled.
The Sint Maarten Department of Statistics is compiling CPI data on a quarterly basis.
The general government data defined as the central government and the social security funds are not compiled.
Including currency and maturity decompositions.
The external debt data are not compiled, but it can be derived from the international investment position.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Collaboration with other International Financial Institutions
Collaboration with the World Bank Group.
World Bank country webpage for Sint Maarten:
List of recently approved projects:
Dashboard for the Sint Maarten Recovery, Reconstruction and Resilience Trust Fund financed by the Netherlands and managed by the World Bank:
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.