Sint Maarten and Curaçao monetary union needs 'less political wisdom', more co-ordinated action


The current account deficit in Sint Maarten has declined in recent years while the deficit in Curaçao remains "well above" 5% of GDP, Emsley Tromp, president of the countries' shared central bank, noted in a speech this weekend, but added that "both countries bear responsibility for addressing the situation of the balance of payments in the monetary union".

To shrink the deficit, the central bank has aimed to reduce liquidity by gradually increasing the reserve requirements of banks, Tromp said

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