CBCS: Curaçao and St. Maarten have more than enough reserves

GREAT BAY--The Centrale Bank van Curaçao en St. Maarten (CBCS) says Curaçao and St. Maarten still have a strong foreign reserve position, with enough foreign money on hand to cover more than five months of imports.

In simple terms, the monetary union has enough reserves to pay for imports for several months, which is above the normal safety benchmark of three months. By the end of May 2026, import coverage stood at 5.5 months, and the CBCS expects the position to remain solid for the rest of the year.

According to the CBCS, gross official reserves increased by Cg 402.4 million in 2025 and rose by another Cg 485 million through June 1, 2026. The Central Bank expects gross official reserves to increase by Cg 302.2 million over the course of 2026.

Despite this strong position, the CBCS has decided to keep its monetary policy unchanged because of uncertainty in the global economy. The Central Bank said international developments, including tensions in the Middle East, the war in Ukraine, global trade disputes, and the possibility of higher oil, shipping and insurance costs, could still affect Curaçao and St. Maarten.

Because the Caribbean guilder is tied to the U.S. dollar, the CBCS said it will continue to follow developments in the United States closely. The U.S. Federal Reserve recently kept its interest rate unchanged, and the CBCS has also decided to keep its pledging rate unchanged at 4.25 percent.

The reserve requirement for commercial banks will also remain unchanged at 18.50 percent. This means banks must continue holding a certain portion of their funds in reserve.

The CBCS said it will continue to monitor local and international developments and will adjust its policy if needed.

The main message from the Central Bank is that Curaçao and St. Maarten are financially stable for now, but because global risks remain high, it is choosing to remain careful.

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