WILLEMSTAD – Member of Parliament for the MFK faction, Ramón Yung, expressed his concern during a meeting on April 24th about the introduction of the Caribbean florin and stated that he believes there should be a new evaluation of the introduction of the Caribbean florin or dollarization of the economy of Curaçao.

According to MP Ramón Yung, it is necessary to re-evaluate which options are most ideal for the country. Institutions such as the Central Bank and the Ministry of Economy, taking into account developments in geo-politics, should conduct investigations and produce public reports on the possible impact that devaluation of the dollar could have on the economy of Curaçao.

It is of utmost importance to study the consequences of the introduction of a new currency or the transition to dollarization. The decision to introduce a new currency, namely the Caribbean florin for Sint Maarten and Curaçao, dates back to 2006, so there are valid reasons to conduct a new study considering that the financial and economic landscape of Curaçao and the world have undergone substantial changes in the last 17 years.

At such an important juncture, the Ministry of Economic Affairs (MEO) and the Central Bank (CBCS) must work on a possible emergency plan. This is necessary, considering that countries in the BRICS and even Europe, currently want to be less dependent on the dollar and the United States. This could have monetary, financial, economic, and geo-political consequences for Curaçao. Therefore, it is crucial for the CBCS and MEO to conduct investigations and produce public reports and advice on the possible consequences that eventual devaluation of the dollar could have on the economy of Curaçao.

It is important for both the Government and Parliament to evaluate this matter carefully and look at which option will benefit our country the most. It is worth emphasizing that, considering the current financial situation of the country and the effect on the economy of Curaçao, the decision to change currency should be based on data and investigations.

Bron: Curacao Chronicle