Attorney Jairo Bloem
~ Some are just eager for us to go to elections again ~
PHILIPSBURG--“Pure political ploy,’ was the way Attorney Jairo Bloem described the ongoing debate over his conditional nomination and conditional appointment by the Council of Ministers (COM) to serve as Chairman of the Supervisory Board of Directors (SBOD) of the Central Bank of Curaçao and St Maarten (CBCS).
He said the talk surrounding the appointment process reflected more political manoeuvring and risks undermining the integrity of the central bank.
“It’s definitely not in the interest of the Central Bank, and when it comes to that, silence matters a lot, because all this brouhaha ultimately affects the integrity and the reputation of the Central Bank,” Bloem said during an interview in the Breakfast Lounge with Lady Grace on Monday.
Bloem said the SBOD had recommended five members for the Supervisory Board in April 2011, including a candidate for the chairman’s role that was expected to become vacant. Etienne Ys, the then-chairman designated by Curaçao for the 2017-2021 term, was recommended by the SBOD for an additional four-year tenure. However, the bank charter limits reappointments to a maximum of one four-year term, meaning total tenure for all SBOD members cannot exceed eight years. The recommendation was sent to the Ministers of Finance of Curaçao and St. Maarten (then Ardwell Irion).
In July-August 2011, both ministers wrote that they would seek a chairman independently, effectively bypassing the SBOD recommendation. This raised the central question: whether SBOD recommendations are binding. At the time, the ministers considered the recommendations non-binding and chose to search for a candidate themselves. The countries did not appoint the members, prompting the SBOD and the Central Bank to invoke the bank charter and appeal to the Court of Appeals for temporary appointments pending official nominations.
The Court of Appeals, guided by Article 25 and interpretations of the charter, appointed the members temporarily. However, the Court did not appoint Etienne Ys, despite the SBOD and Central Bank recommendation, because the ministers insisted on selecting a candidate independently. Bloem said the delay had lasted more than four years and only ended when sitting Finance Minister Marinka Gumbs intervened in 2024.
Bloem characterised the prolonged delay as politically motivated. He cited historical examples, such as motions of distrust, to illustrate how political disputes can destabilise governance.
The Court of Appeals had urged the Ministers of Finance to finalise a nomination, clarifying that ministers cannot act independently without interacting with the SBOD and considering its recommendations. Bloem noted that during successive governments, including the National Alliance/UP government, no nominations had been made. During the Marcelina 1 cabinet, no nominations were made, partly due to the government’s de-missionary status.
Minister Marinka Gumbs intervened in December 2024, requesting that the existing SBOD provide a formal recommendation. She acted amid a financial issue involving the Ennia group, where St. Maarten held about 25% equity but the majority of the portfolio was in Curaçao. Through negotiations, she managed to reduce St. Maarten’s financial exposure, saving a
significant amount, but the SBOD had still not formally provided a recommendation. As of January 2025, despite a reminder, the SBOD had not responded, leaving the process unresolved.
Bloem suggested that the dispute over his nomination has been used for political purposes. He argued that some parties and individuals are eager to politicise the process, which can potentially destabilise the CBCS.
“For me, this is pure political ploy. It is a means to an end. It’s understandable to an extent. Some people are just eager for us to go to the elections again,” Bloem said.
He stressed that the integrity of the CBCS must take precedence over political considerations. He also noted that public perception regarding his prior legal work, including representing Emsley Tromp and an international financial institution in cases against the Central Bank, should not overshadow his qualifications or the board’s independence.
“Back then it was constant discussions to sort things out. … You are not there for a beauty contest, you are not there to be liked, you are there to do your job,” Bloem said.
Bloem, who served on the Supervisory Board from 2011 to 2014, spoke of his long-standing commitment to ethical standards and transparency. He said that during his tenure, he had not taken on any cases that could present a conflict of interest, and had only pursued cases against the CBCS after his term ended. He noted that all his professional actions, both in court and outside, are regulated by a code of conduct that ensures adherence to ethical standards even in private and public life.
“I am an attorney, and my functioning is regulated by a code of conduct, and that code of conduct also reflects conflicting interests. I am not only an attorney in court; my behaviour outside of court is also regulated by the code of conduct,” he said.
Bloem said he had explicitly informed the Council of Ministers that he would not take on any case in which he had a conflicting interest, reinforcing that his past legal work should not disqualify him. He argued that a person’s previous cases against the CBCS, concluded years ago, cannot automatically be used to question their suitability.
Bloem described the supervisory board as a highly technical, demanding and unpaid position that requires rigorous oversight rather than ceremonial participation. Supervisory board members are tasked with advising, supervising, and ensuring proportional attention between Curaçao and St. Maarten despite the unequal contribution of assets. During his tenure, Bloem said, he worked 2-3 hours daily for nearly three years without compensation, with payment only issued at the end of the third year.
He detailed several of the board’s accomplishments during his time, including refinancing and consolidating harbour loans, restructuring Princess Juliana International Airport’s (PJIA’s) loans, and renovating the Central Bank’s building in St. Maarten. The board also initiated local financial education programmes to support St. Maarteners aspiring to careers in financial institutions.
Despite the high workload and public perception of the position as prestigious, Bloem said the service requires commitment and attention to detail, noting that board members must balance technical knowledge with strategic negotiation and consensus-building.
“The supervisory board is as good as the strength of all or as bad as the weakness of one. You spend a considerable amount of time discussing various subjects that come in front of you; you try to create consensus on what actions are going to be taken,” he said.
During the radio programme, Bloem spoke of the supervisory board’s role in ensuring balanced oversight between Curaçao and St. Maarten. He pointed out that despite Curaçao holding approximately three-quarters of the Central Bank’s assets, voting rights remain equal, requiring careful negotiation to ensure fairness in decisions.
He described the importance of procedural adherence and timely recommendations to maintain trust in the institution. Temporary appointments, while legally valid, create ambiguity if
countries delay acting on recommendations. Bloem warned that prolonged delays risk eroding both confidence and the Central Bank’s effectiveness as a financial watchdog.
Bloem highlighted his decades-long experience in law and finance and said he accepted the role out of commitment to service.
“I have experience and the knowledge; it might sound arrogant, but it is what it is, and when asked to serve, because that is what it is, I said, ‘yes,’” Bloem said.
