Dear Editor,
In recent days, the political discourse in St. Maarten has been dominated by calls from the United People’s (UP) party, National Alliance (NA), and Nation Opportunity Wealth (NOW) factions for Finance Minister Marinka Gumbs to retract her controversial nomination of the Chairman of the Supervisory Board of the Central Bank of Curaçao and St. Maarten (CBCS). Their objection, as clearly articulated, centers on adherence to the CBCS Charter, not on the person nominated.
The CBCS Charter is explicit: the appointment of a Chairman demands a recommendation from the Supervisory Board adopted by a five-sixths majority, not a unilateral decision by any minister. The factions have underscored that institutional integrity and respect for legal processes must prevail over individual or political interests. Yet, in practice, a public disagreement of this nature invariably brings the nominee into focus, regardless of stated intentions.
Minister Gumbs now stands at a crossroads. On one side lies the temptation to defend ministerial discretion as a prerogative asserted in good faith; on the other, the responsibility to uphold the rule of law and maintain confidence in financial governance. The CBCS, being an institution of central public trust, cannot afford ambiguities in its leadership protocols. Both countries - Curaçao and St. Maarten - rely on the bank’s independence to safeguard their economic stability.
A constructive resolution is within reach if all parties agree to acknowledge publicly that confusion over appointment procedures has occurred, citing ambiguous interpretations and reaffirming their shared priority of institutional integrity. By launching a bipartisan or even independent legal analysis of Article 25 of the CBCS Charter, both sides can demonstrate commitment to lawful process without assigning blame. During the review period, the Finance Minister can voluntarily suspend the nomination, preserving her good faith while signaling respect for due process and the rule of law.
Dialogue remains crucial. A roundtable discussion among Parliamentary factions, Supervisory Board members, and legal experts will allow open exchanges about the criteria and protocols for current and future appointments. This process strengthens institutional reform and consensus, consequently reducing the likelihood of similar disputes in the future. After productive dialogue, the parties can communicate their progress in a unified public statement that highlights their common objectives - restoring integrity and transparency in public financial management - while emphasizing lessons learned and reforms adopted.
By agreeing on transparent and clearly defined procedures for executive appointments and reinforcing channels for stakeholder engagement, the government can restore institutional trust and avoid situations that cause unnecessary political tension or reputational damage. This roadmap enables all parties to reaffirm their dedication to sound governance without anyone appearing to lose face or back down in the face of criticism.
Mike Willem, MBA, BaEcon, CPa
Former minister/commissioner/MP/Council member
