St Maarten 1.3 BILLION GUILDERS in debt. Government entities NOT included! Antilliaansdagblad.com

Philipsburg – Sint Maarten’s public debt amounted to an estimated 1,328 million guilders (1.3 billion) after the first six months of this year. The government debt-to-GDP ratio stood at 75 percent at the end of June 2021.

The government debt ratio is based on the current economic estimate of the International Monetary Fund (IMF). The IMF has estimated a nominal gross domestic product (GDP) for the year 2021 for Sint Maarten of 1,770 million. This is stated in ‘IMF Executive Board Concludes 2021 Article IV Consultation with the Kingdom of the Netherlands – Curaçao and Sint Maarten’ of 2 August.
In other words: the national debt amounts to three quarters of every guilder the Sint Maarten economy (GDP) produces and generates; the 75 percent mentioned by the Board of Financial Supervision (Cft) in the most recent letter to Minister Ardwell Irion of Finance.

In the second quarter of 2021, the fifth and sixth are for the period April to September tranche of Dutch liquidity support totaling 87 million granted to Sint Maarten. This brings the total liquidity support provided so far in 2021 to 96 million.

No loan repayments were made up to and including the second quarter. Long-term payment arrears decreased on balance by 0.3 million in the second quarter.

In addition to the 1,328 million government debt mentioned above, the Land of Sint Maarten also has various debts to government entities. Total payment arrears to government entities at the end of the second quarter amounted to 107 million. The two largest debts are outstanding with SZV (Social Health Insurance), namely 68 million, and with APS (Algemeen Pensioenfonds Sint Maarten) 22 million. “The Cft urgently advises you to make payment arrangements with both entities,” writes chairman Raymond Gradus to Minister Irion.

The Kingdom Council of Ministers (RMR) has 9 million and 39 million euros for the first and second quarter of 2021 respectively. million in liquidity support granted to Sint Maarten. The liquidity support for the second quarter of 2021 was disbursed with a delay due to insufficient progress in the implementation of the National Package. By granting it on June 17, the liquidity increased by 19 million compared to the first quarter.