PHILIPSBURG:--- The Minister of Finance received the International Monetary Fund (IMF) mission team, led by Mr. Smith, currently conducting a Central Bank Transparency Code (CBT) review on request of the Central Bank of Curaçao and Sint Maarten (CBCS).
In July 2020, the IMF Executive Board adopted the Central Bank Transparency Code (CBT) as a voluntary framework to help central banks assess and strengthen their transparency practices. The Code aims to enhance communication with stakeholders, reinforce public trust, safeguard central bank independence, and promote accountability in the execution of monetary and financial stability policies.
The CBT defines transparency as an institutional feature that ensures comprehensive public access to information about the central bank’s mandate, operations, and governance while maintaining an appropriate balance between openness and legitimate confidentiality.
As part of the review, the IMF team is assessing CBCS’s transparency practices across all aspects of its work. The review process includes an analysis of publicly available information such as publications, legislation, policy documents, and the central bank’s website, alongside interviews with external stakeholders to gather perspectives on the accessibility, clarity, and transparency of information shared by the CBCS.
Upon completion of the assessment, the IMF will prepare a draft report for sharing with the CBCS. The final report is expected in the first half of 2026, after which the CBCS will decide whether to make it publicly available.
During the meeting, the Minister shared her input, based on her experience, on the transparency, consistency, and clarity of information shared by the CBCS. Minister of Finance Marinka J. Gumbs expressed appreciation for the IMF team’s visit and noted the importance of this initiative in strengthening financial governance and transparency. She stated that she looks forward to the report and emphasized that she would like to see the differences between Curaçao’s and Sint Maarten’s perspectives reflected in the findings.
