WILLEMSTAD - The Central Bank of Curaçao and St. Maarten (CBCS) closes 2020 with a loss of 3.9 million guilders, according to the annual report.
In 2019, the year before, a profit of 6.9 million guilders was booked. This is a difference of 10.8 million guilders. The loss is less than expected in October last year. A big loss had already been taken into account.
The interest income of the CBCS has come under considerable pressure. In 2019, 62.5 million guilders was earned in interest. In 2020 this amount was only 37.9 million guilders. This is a difference of 24.6 million guilders. Due to COVID-19, interest rates on the international market are expected to remain low for the time being. The CBCS has drawn up a plan and adjusts it if necessary, in order to limit negative consequences for its result and financial position.