BONAIRE (KRALENDIJK) - The Customs Caribbean Netherlands (CN) trainees are busy training to become full-fledged customs officials. The 10 trainees follow the Task-oriented C training course, which consists of three main parts: the module Extraordinary police officer (BAVPOL), the module Basic technical skills Customs C officer and the module Task-oriented learning and working.

The training started in October 2023 and has a duration of nine months, taking into account school holidays and days off.

During the training, trainees are taught various subjects such as:

- Extraordinary police officer (BAVPOL): criminal law and criminal procedure, attitude and self-control, reports and actions;

- Integrated vocational training (IBT): violence management techniques;

- Arrest and self-defense (AZV): baton, handcuffs and pepper spray;

- Weaponry and shooting skills;

- BES Customs and Excise Act (DABES): tariff, customs value, exemptions, official powers, traveler's luggage and excise duty;

- Special laws in the field of safety, health, economy and environment (VGEM): (Fire) Weapons Act, Medicines Act, Liquid Assets Legislation, CITES/Basics of Nature Management and Protection Act BES, Opium Act 1960 BES, Veterinary and Commodities Act;

- Other subjects such as Dutch and Asycuda World (this is the system that customs uses to register all the resources they use).

If the three modules have been completed successfully, the trainees will be appointed customs officers. They will then receive a 'Professional examination for appointment as a C Customs officer' certificate.

The graduated customs officers are then deployed to the Caribbean Netherlands, some of whom are based on Saba, Sint Eustatius, and Bonaire.

SINT MAARTEN/CURACAO - The Centrale Bank van Curaçao en Sint Maarten (CBCS) released its 2024 Financial Stability Report (FSR) on May 15. As reported in the FSR, rising geopolitical conflict, cybercrime, and climate change are among the most pronounced risks faced by the financial sector of the monetary union during 2023.

Even though the financial sector showed remarkable resilience during 2023, the CBCS remains cautiously optimistic. The FSR covers forty-eight local financial institutions within the monetary union: eight banks, nine life insurance companies, nineteen non-life insurance companies, and twelve pension funds.

Total assets were estimated at NAf. 26.8 billion for 2023, which is more than three times the Gross Domestic Product of the monetary union. Following a tumultuous 2022, market sentiment improved in the first half of 2023 with solid returns on international capital markets.

Domestic macro-financial prospects improved as the domestic economies grew, and tourism and construction activities thrived. However, developments outside the monetary union, such as increased policy interest rates and volatility on international markets, warrant close monitoring.

Domestic banks reported improved capital positions and declining non-performing loans. The profitability of banks deteriorated slightly due to higher operational expenses.

Nonetheless, the banking sector was able to generate more income from higher lending volumes, rising interest rates, and other sources. An improved credit risk resulted from fewer non-performing loans, due to improved repayment behavior and enhanced monitoring by the banks.

Institutional investors recorded a substantial recovery in funding- and solvency ratios after experiencing setbacks in the previous year. The high dependency of institutional investors on volatile financial markets greatly affects their investment income and is a reason for vigilance.

Nonlife insurers saw an increase in claims as tourism-related economic activities picked up. However, insurers also face stagnating premium growth in some product categories. Reinsurance premiums, which continue to rise due to climate change, remain a risk.

The CBCS assesses interconnectedness to determine whether there is a strong connection between domestic financial institutions. A high degree of connectedness may become a risk to financial stability.

During 2023, interconnectedness in the monetary union continued to decrease. With the FSR, the CBCS aims to inform stakeholders and the public about the state of the financial system in the monetary union of Curaçao and Sint Maarten.

The report analyzes the risks and vulnerabilities affecting the financial sector. Findings in this FSR have been corroborated with input from the relevant stakeholders in the financial sector of Curaçao and Sint Maarten.

The complete text of the 2024 Financial Stability Report is available on the CBCS website at: https://www.centralbank.cw/publications/financial-stability-reports/2024.

SINT MAARTEN (COMMENTARY – By Marvio Cooks) - Over the past five years, the public roads of St. Maarten (Dutch side) have been plagued by improperly managed and poorly visible road lines. This situation poses significant risks to road safety and demands immediate attention to prevent accidents and improve the overall quality of life for residents and visitors alike.

The importance of clearly painted road lines cannot be overstated. They are a fundamental aspect of road safety, guiding drivers and reducing the likelihood of accidents. As observed at the intersection of AJC Brouwers Road and Welgelegen Road (hospital road), the lack of visible road markings leads to dangerous driving behaviors.

“It’s the simple things that make people see that you have their safety in mind. Look at the intersection of AJC Brouwers Road and Welgelegen rd., for example. Many drivers enter Welgelegen rd. by cutting through the incoming turn lane on Welgelegen rd. which increases the chances of a head-on collision at the intersection. Many do not know where the actual point of entry to the Welgelegen rd. Properly painted roadways increase road safety for all,” Mr. Cooks emphasized.

The absence of well-defined road lines not only jeopardizes safety but also reflects poorly on the management of public infrastructure. Clear and properly maintained road markings are essential for directing traffic flow, delineating lanes, and indicating important information such as pedestrian crossings and stop lines. These simple measures can drastically reduce confusion and enhance the driving experience, thereby promoting safer roads.

Investing in road paint is a cost-effective solution with significant benefits. The cost of high-quality road paint ranges from $200 to $300 per mile, depending on the type and durability. This modest investment can lead to substantial improvements in road safety and driver satisfaction. Additionally, it is crucial for the government to demonstrate that tax revenues are being utilized effectively to enhance public amenities. When taxpayers see tangible improvements in their daily lives, such as safer and more navigable roads, they are more likely to comply with tax obligations.

In conclusion, the simple act of maintaining visible and properly painted road lines can make a significant difference in the safety and well-being of St. Maarten’s residents and visitors. It is an essential measure that reflects a commitment to public safety and responsible governance. By prioritizing this basic yet critical aspect of road management, St. Maarten can take a crucial step towards creating a safer and more orderly environment for all road users.

Marvio Cooks

CURACAO (WILLEMSTAD) - The Social and Economic Council (SER) of Curaçao, represented by mandate of the President-in-Office, by an official delegation led by Director and General Secretary Drs. R. J. Henriquez, participated with distinguished presence in the prestigious Ibero-American Forum of Economic and Social Advisory Councils and Similar Institutions. The event, which took place May 7-10, 2024, at the Centro de Formación de la Cooperación Española in Cartagena de Indias, Colombia, focused on democracy, pacts, consensus, and the crucial role of socioeconomic advisory councils in promoting public policies for better democratic governance, sustainability, and climate change.

As president of the regional network CESISALC (Consejos Económicos y Sociales e Instituciones Similares de América Latina y el Caribe), the SER of Curaçao lead the sessions on May 9 and 10. This important meeting, organized by the Economic and Social Council of Spain and the Spanish Agency for International Development Cooperation (AECID), provided a platform for in-depth discussions on the challenges in the Ibero-American region, including the role of institutionalized social dialogue in strengthening democratic structures.

During its interventions on the green and digital transition, the Curaçao delegation used up-to-date and relevant information obtained from the Curaçao Climate Change Platform (CCCP) and the association SIMIA, which focuses on promoting the software industry by encouraging the export of locally produced software solutions. The focus here was on promoting sustainable tourism, renewable energy sources such as wind and solar power, and innovative maritime projects, particularly the Proteus initiative, an advanced underwater research station, observatory, and research platform. Attention was also drawn to the digital transition, particularly the increasing use of generative artificial intelligence, and the importance of the software industry as a new economic pillar for Curaçao. This is alongside existing sectors such as tourism and financial services and with the possibility of a revival of oil refining activities.

Ibero-American network

During the forum, there were further detailed discussions with the Secretaría General Iberoamericana about the possibility of establishing a network of Ibero-American socio-economic advisory councils. Although Curaçao, as an autonomous country within the Kingdom of the Netherlands, is not among the 22 Ibero-American countries, the Curaçao ESC stressed its desire to be part of such a network as a member of CESISALC, which includes the 19 Spanish- and Portuguese-speaking countries of Latin America, as well as Spain, Portugal, and Andorra. Participation in this network could enable Curaçao to share and gain insights on policy developments on both sides of the Atlantic.

During this four-day forum, more than 34 senior delegates from 11 countries from Latin America, the Caribbean, and Europe discussed the integration of sustainability and climate change policies into socioeconomic policies. The meeting highlighted the crucial role that socioeconomic councils play in advising on and shaping policies that promote social cohesion and economic stability. Also present were representatives from the International Labor Organization (ILO), the Organization for Economic Cooperation and Development (OECD), and the UN Food and Agriculture Organization (FAO), who contributed to the discussions on these important topics.

The Curaçao ESC recognizes the value of international cooperation and the exchange of knowledge and best practices. The meeting helped strengthen Curaçao's position within the Ibero-American socio-economic landscape and generated insights and commitments that may be relevant to future policy developments on the island.

More information can be found at www.ser.cw