Minister raises concerns over Ennia impact on Central Bank’s 2022 financial statement

November 17, 2023   –WILLEMSTAD – The Minister of Finance of Curaçao, Javier Silvania, has expressed reservations about the approval of the Central Bank CBCS’s financial statement for 2022. He cites the unresolved Ennia issue, stating that it could still have a significant impact on the financial statement. 

In a meeting with the Supervisory Board (RvC) of the Central Bank of Curaçao and Sint Maarten scheduled for November 23, Silvania conveyed his inability to determine the financial statement due to the ongoing Ennia dossier. The Ennia problem, according to the minister, may have substantial implications for the CBCS’s financial statement. 

Silvania emphasized that until the Ennia issue is resolved and the related procedures are finalized, determining the financial statement would not be opportune. Therefore, he intends to postpone the approval until further notice. 

The Ennia situation involves an annual contribution from the country for 25 to 30 years, with an additional commitment for financial contributions from the CBCS. The Central Bank, under the emergency regulation, is responsible for overseeing Ennia’s administration. 

Despite earlier expectations of a detailed plan for settlement by early November, no such plan has materialized. This delay is causing concerns, especially with the departure of the division manager Resolution – responsible for the Ennia dossier – at the Central Bank. 

Silvania’s actions suggest a need for the CBCS’s Executive Board (RvB) and Supervisory Board (RvC) to resolve the Ennia issue before proceeding with the approval of the 2022 financial statement. Failure to do so may result in the Minister withholding approval until the matter is adequately addressed. 

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