~ Questions why BES, Suriname linked to St. Maarten ~
PHILIPSBURG, Sint Maarten — In a scathing rebuke, Member of Parliament Christophe Emmanuel on Thursday accused the former National Alliance government and the Central Bank of Curaçao and St. Maarten (CBCS) of committing financial genocide by burdening the people of St. Maarten with the disastrous Ennia bailout agreement. Emmanuel’s remarks followed revelations made by Finance Minister Marinka Gumbs, exposing hidden terms that would further drain St. Maarten’s financial future for decades.
“The noose was there, waiting for us—and we wouldn’t have even recognized it had Minister Gumbs not revealed the details of this horrendous agreement,” Emmanuel declared. He praised Minister Gumbs for her transparency in unearthing the full scope of the agreement.
Minister Gumbs, during her update on the Ennia saga, expressed surprise by discovering the extent of the financial obligations St. Maarten was being shackled with—particularly the inclusion of BES and Suriname policyholders in the bailout package. “This is exactly why I am taking my time to understand this agreement,” she said, highlighting how the deal, signed by the former government, is not in the best interests of St. Maarten.
Emmanuel, already a fierce critic of the agreement, reacted with outrage to these new revelations, particularly the fact that St. Maarten is expected to cover not just its own policyholders but also millions for policyholders in BES and Suriname. “This is nothing short of financial betrayal. How can anyone in good conscience sign such a deal that forces St. Maarten to foot the bill for BES and Suriname? This amounts to over Naf 5 million, yet no one can explain who these policyholders are or why we are responsible for them,” Emmanuel fumed.
He did not mince words, calling the National Alliance government “liars” and condemning the Central Bank as complicit in this travesty. “This is financial genocide. The Central Bank, in collusion with a puppet minister, signed away the future of our people for the next 30 to 50 years. This was not just reckless—it was malicious,” Emmanuel said, adding that at least two generations of St. Maarteners will be footing the bill.
Emmanuel reserved particular ire for the Central Bank, under whose watch the Ennia scandal unfolded, robbing the people of St. Maarten and Curaçao. Now, those same citizens are expected to bear the burden of a bailout that was engineered behind closed doors and without full disclosure. “The Central Bank let Husang Ansary rip off our people, and now we’re expected to clean up the mess they allowed to happen. This agreement isn’t just bad, it’s nasty, it’s wrong, and it’s completely unacceptable,” Emmanuel declared.
The MP also highlighted the hypocrisy of the Central Bank, which for years failed to pay St. Maarten its due dividends. “Suddenly, when Ennia collapses under their watch, they magically find Naf 4 million a year to ‘pay’ us. But here’s the catch—they keep three-quarters of it to fund their bailout and use our COVID loans as leverage to blackmail us into signing. And a typically weak National Alliance government fell right into their trap,” Emmanuel blasted.
He urged Minister Gumbs to continue her due diligence and expose the full extent of this scandal, cautioning Parliament not to approve what he labeled a “death warrant” for St. Maarten. “We need to hear better alternatives before we sign our island’s future away. This deal, as it stands, is unacceptable and will only further enrich the Central Bank at the expense of the people of St. Maarten,” Emmanuel stated.
MP Emmanuel’s relentless opposition to the Central Bank has now been vindicated. For years, he has been a consistent voice warning against the dangers of St. Maarten’s financial entanglement with Curaçao.
“The proof is undeniable. The Central Bank has no regard for St. Maarten and has consistently acted against our interests. This disaster only adds credence to my long-standing call for secession from the monetary union. St. Maarten can no longer afford to be chained to an institution that sees us as nothing more than a financial backstop for their own failures. It’s time to break free and establish our own Central Bank that serves our people first and foremost,” Emmanuel concluded.
