Sint Maarten Finance Minister Michael Ferrier and Netherlands Secretary of State Raymond Knops on Friday afternoon signed in The Hague a loan of 50 million guilders, or about $ 27,7 million. This allows Sint Maarten to strengthen its cash flow and avoid payment difficulties in the coming months.
This loan is at zero rate and must be repaid within thirty years. Twenty-five annual maturities of 2 million guilders have been calculated. The first will begin in January 2023. This agreement puts Sint Maarten in a better position to enable it to ensure its financial commitments, precisely to meet the expenses generated by the passage of Hurricane Irma in a period of low revenue.
6,713 total views
No comments