WILLEMSTAD - The government of Sint Maarten has taken out a loan of 75 million guilders against the provisions of the Financial Supervision Act, and without the required approval of the Kingdom Council of Ministers.
A letter from the Committee for Financial Supervision (Cft) states that it concerns a bond loan through the Central Bank of Curaçao and Sint Maarten (CBCS) with a term of 25 years. CBCS has announced that it is betting on an interest rate of 5 percent. Commercial banks have until October 19 to register for the procedure.
