Curaçao looks to break monetary union arrangement with St. Maarten

GREAT BAY--Based on reporting by Antilliaans Dagblad, the government of Curaçao is seeking to revisit the current arrangement governing the monetary union between Curaçao and St. Maarten, with the Centrale Bank van Curaçao en Sint Maarten, CBCS, serving as the shared monetary authority.

In a letter to the Parliament of Curaçao, Prime Minister Gilmar Pisas stated that his government wants to reconsider the existing mutual arrangement and explore the possibility of establishing a separate Central Bank for Curaçao.

The Curaçao government indicated that it intends to address the desired policy direction, along with the organizational and other implications of such a move, during a Central Committee meeting in the near term. Following Parliament’s consideration of the matter, formal discussions with St. Maarten on the future of the arrangement are expected to follow.

The government also pointed to a February 13, 2026 declaration by the Parliament of Curaçao, in which the monetary union with St. Maarten was described as “an unsuccessful example” of administrative cooperation between the Caribbean countries within the Kingdom.

Prime Minister Pisas reportedly maintained that the creation of a separate Central Bank for Curaçao would not affect the stability of the Caribbean guilder, nor the effectiveness and continuity of monetary and prudential supervision and the functioning of the financial system. He further stated that these safeguards would remain in place throughout any transition process toward a separate central banking structure for Curaçao.

The latest development comes against the background of ongoing tensions between Curaçao and St. Maarten regarding the CBCS and the future of the monetary union. The matter is expected to draw close attention in St. Maarten because of its possible implications for monetary governance, financial oversight, and the broader relationship between the two countries.

Source: Antilliaans Dagblad.

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