Irion: ‘We do not have any buffer’

Irion: ‘We do not  have any buffer’

PHILIPSBURG--The country’s financial status as of December 2021 was not very bright. Finance Minister Ardwell Irion had told Members of Parliament (MPs) in response to questions posed during the Central Committee debate of the draft 2022 budget, that the country does not have any buffer.

  He was asked what the country’s liquidity position was and how long St. Maarten could survive without assistance. “With strict financial management, we are able to pay our monthly obligations,” Irion told MPs in his answer. “We do not have any buffer. Our latest liquidity projections cover up and include the first quarter of 2022.”

  Irion was also asked whether the country was still running on a month-to-month basis as was stated earlier in 2021. “When asking about the country running on ‘month to month’ the MP probably meant the frequency of analysing income versus expenditures and determining if we realised a loss or if we experienced a balanced month. This comparison is made on a monthly basis,” the minister explained.

  “At this moment and moving forward, the government deems it necessary to continue monitoring the financial situation of the government on a monthly basis. Due to the situation, as it relates to COVID, we are aware that things can change very rapidly on both – local and international level. Therefore, the government will continue to monitor the situation closely,” Irion said.

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