WILLEMSTAD – The government has outlined an extensive financial rescue plan for the Curaçao Medical Center (CMC), involving capital injections and structural budget support totaling well over Cg 100 million, according to the Financial Management Report.
The plan is split into two components. First, the government will structurally increase healthcare funding through the Social Insurance Bank (SVB), including:
- Cg 10 million annually for uninsured patient care,
- Cg 3 million to improve staff working conditions,
- Coverage of Cg 18 million per year in capital costs related to the hospital building,
- An additional Cg 10 million to support CMC operations.
Second, the government intends to clean up the balance sheets of both CMC Vastgoed and CMC Exploitatie by capitalizing unfunded replacement reserves. This includes Cg 87 million for CMC Vastgoed and Cg 24 million for CMC Exploitatie through balance-sheet transactions.
These measures are conditional on governance reforms to bring the CMC entities fully in line with Curaçao’s corporate governance legislation. The government expects the capitalization process to be finalized before the end of 2025.