WILLEMSTAD - Despite the improvement in its liquidity position, Curaçao has to take into account the repayment of a loan from 2010 of 140 million guilders. This is what chairman Raymond Gradus of the Board of Financial Supervision (Cft) writes in a letter to Minister of Finance Javier Silvania.
In the past two quarters, Curaçao's liquidity position has increased by 61 million guilders compared to the balance of liquid assets at the end of December of 252 million guilders. At the end of June of this year, the balance amounted to 313 million guilders.
However, the Cft warns the minister "not to lose sight of the fact that a loan from 2010 of 140 million guilders will expire in 2025 and must be repaid." In addition, refinanced loans will mature in October 2023. These are bundled liquidity loans from 2020 and 2021 that have been refinanced up to that date.
Gradus further points out that no repayments were received up to and including the second quarter of a loan for the construction of the Curaçao Medical Center (CMC). According to the Cft, this is apparent from the implementation report.
The regulator urges Curaçao to specify the repayment agreements made with the CMC. If necessary, provisions must be made for this in the draft budget amendment for Parliament, according to the Cft.