PHILIPSBURG--The transfer of St. Maarten's share of the assets of the former Netherlands Antilles has been stalled due to queries from Curaçao about the cost of real estate.
The division of the assets and liabilities has been an ongoing process since October 10, 2010 when the Netherlands Antilles was dismantled and Curaçao and St. Maarten emerged as countries within the Dutch Kingdom and Bonaire, St. Eustatius and Saba became public entities of the Netherlands.
Finance Minister Richard Gibson told the press on Wednesday the transfer of assets, which include funds, has "hit a snag, because Curaçao wants certain things reviewed."
Among the real estate Curaçao has queries on is the evaluation of the prison at NAf. 40 million. Curaçao's queries will have to be looked into before the division moves forward.
St. Maarten and the Netherlands, on behalf of its public entities, are in agreement with the asset division, unlike Curaçao, said Gibson.
In anticipation of the transfer to St. Maarten, Gibson said a "promise" has been made in the draft 2016 budget to use the funds to service the country's mounting debt.
