Dutch deal falls through for now, St. Maarten in default

Dutch deal falls through for now, St. Maarten in default

THE HAGUE--No deal for a third tranche of liquidity support was reached between St. Maarten and the Netherlands in Friday's lengthy meeting of the Kingdom Council of Ministers meeting, which places the country's finances in jeopardy for the moment.

  The Netherlands has also decided not to extend the repayment postponement on the NAf. 50 million loan that was due, meaning St. Maarten is now in default.

  Sources have confirmed that a deal could not be reached on Friday, but also indicated that there is room for further negotiation this weekend. 

  A statement was read by a St. Maarten representative at the meeting, which was not well received by the Dutch government. Despite this, they still indicated a willingness to conclude the agreement, if the St. Maarten government distanced itself from the harsh statements made by some Members of Parliament (MPs) on Monday and from the actions of Pro Soualiga Foundation. 

  Because this was not forthcoming from the St. Maarten representatives, the Dutch have kept the deal off the table. 

  More details will be reported as this story develops.

The Daily Herald

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