WILLEMSTAD:---The Bank has been asked by the finance ministers of Curaçao and Sint Maarten to show solidarity with the communities of both countries and to implement the 12.5% discount on employment conditions within the CBCS.
The CBCS is not legally obliged to comply with this. But we realize all too well that many people in Curaçao and Sint Maarten are currently having a very difficult time because of discounts on their salary or in the worst case have lost their jobs. We have therefore also indicated that should such a request come, we would consider it. At the same time, we would examine to what extent the austerity measures already implemented contribute to this 12.5%. This concerns the non-implementation of the indexation, the reduction of the Christmas bonus, and the abolition of the extra payment for a special performance at the end of the year.
The calculation shows that these measures cover the required 12.5% discount on the terms of employment. We, therefore, informed both Finance Ministers and the Supervisory Board in writing yesterday that the Bank complied with the request.
In principle, these measures apply until the year 2024 and will be evaluated annually.