Central Bank lays out reasoning for dollarization

POSTED: 01/18/11 1:53 PM

St. Maarten – Minister of Finance Hiro Shigemoto said on Monday that those present for the presentation on dollarization asked a range of questions covering the pros and cons. Issues such as the Central Bank of Curacao and St. Maarten’s gold reserves, decreasing interest rates and other topics were touched upon.
Central Bank President Dr. Empsley Tromp gave an extensive presentation to the Council of Ministers, bank executives and representatives from the Foundation Tax Committee. The session was organised by the government after the bank’s and tax committee asked for more information about the bank at a meeting last week.
The presentation and question and answer session lasted about 90 minutes.

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