PHILIPSBURG:---The Police Force of Sint Maarten (KPSM) is again calling on all owners of scooters and motorcycles that have been confiscated due to non-compliance with traffic laws and other regulations to take immediate action to reclaim their vehicles. These impounded vehicles have been stored at police headquarters for an extended period of time.

While it may seem that these types of announcements are repetitive, it is important to emphasize that this is part of the process of good governance. KPSM remains committed to transparency and ensuring that the public is well-informed and provided with the necessary opportunities to resolve these matters. Through these notifications, vehicle owners are given ample time to take action, recover their property, and avoid the permanent forfeiture of their vehicles.

To retrieve your scooter or motorcycle, owners are required to present the following documents:

• Proof of ownership
• Valid insurance
• A driver's license for the appropriate category
• Payment of road taxes
• A valid inspection card, as mandated by law

Failure to reclaim your vehicle within a reasonable timeframe may result in permanent forfeiture, with KPSM reserving the right to dispose of unclaimed vehicles, including the possibility of having them destroyed.

Owners are urged to act promptly to avoid the loss of their property. For assistance or to arrange the release of your vehicle, please contact KPSM at 54-22222.

KPSM remains committed to promoting traffic safety and ensuring compliance with all road regulations. We appreciate the public's cooperation in maintaining safety and order on Sint Maarten's roads.

KPSM Press Release.

PHILIPSBURG:--- On September 16, 2024, at approximately 6:00 am, the Detective Department of the Sint Maarten Police Force KPSM, in collaboration with personnel from the Prosecutor’s Office and other law enforcement agencies, arrested a suspect with initials L.L.A., in connection with an ongoing fraud investigation.

The suspect was arrested at her residence in Dawn Beach and is now being held at the police station in Philipsburg for further questioning.

Following the arrest, law enforcement searched the residence. Several items vital to the investigation were confiscated.

L.LA’s administrative office in Philipsburg was also searched by law enforcement.

KPSM urges anyone who may have complaints or information about this fraud case to report it to the Detective Department in Philipsburg. Public assistance is invaluable in ensuring a thorough and successful investigation.

KPSM and the Prosecutor’s Office remain committed to addressing fraudulent activities and ensuring those involved are brought to justice.

KPSM Press Release.

~In light of global financial market expectations~

Willemstad/Philipsburg:---  The Centrale Bank van Curaçao en Sint Maarten (CBCS) decided to ease its monetary policy stance by reducing the pledging rate1 by 0.50 percentage point to 5.25%. This decision is based on the solid and stable foreign exchange position and import coverage in the monetary union, and the expected reduction of the federal funds rate. However, the Monetary Policy Committee (MPC) of the CBCS will continue monitoring the domestic and international economic developments closely, particularly the key indicators for monetary policy in the union, and will adjust its policy if necessary.
“According to the latest projection, the deficit on the current account of the balance of payments of the monetary union is expected to drop from 15.8% of GDP in 2023 to 13.9% in 2024, due mainly to an increase in net current transfers from abroad”, stated executive director, Dr. Jose Jardim. Net exports will remain practically unchanged as the increase in the export of goods and services will be offset by a higher import bill. “In line with the increase in tourism activities in 2024, foreign exchange earnings from tourism and transportation services are projected to rise across the monetary union. Meanwhile, the projected increase in imports is driven mainly by higher merchandise imports. Especially, merchandise imports by the wholesale and retail trade sector is expected to go up, reflecting increased tourism spending and higher domestic demand across the monetary union. The ongoing private investments in Curaçao and Sint Maarten will also result in higher merchandise imports by the construction and utilities sectors”, he explained.
In the first eight months of 2024, gross official reserves increased by NAf.168.2 million. The rise in reserves was attributable mainly to the transfers from abroad by the World Bank in connection with the reconstruction of Sint Maarten, pension funds and the Dutch Ministries of the Interior and Kingdom Relations and Finance, and the net sale of foreign exchange by the commercial banks to the CBCS. However, the withdrawal of dollar deposits by commercial banks (including those in Bonaire), combined with transfers abroad by other financial institutions, moderated the increase in foreign reserves. Against this background, gross official reserves are expected to grow in 2024 as the projected external financing and capital transfers will exceed the deficit on the current account of the balance of payments.
The import coverage rose from 4.6 months at the end of 2023 to 4.8 months at the end of August 2024, driven by the rise in gross official reserves moderated by a minor increase in the projected target import of goods and services. Meanwhile, the projected average import coverage for the entire year is expected to reach 4.7 months, well above the norm of 3 months. Meanwhile, the
1 The pledging rate is the rate at which commercial banks can borrow at the CBCS in case of a liquidity shortage.
Liquidity of the commercial banks, measured by their current account balances with the CBCS, decreased by 15.2% up till the end of August, driven primarily by the net withdrawal of dollar balances at the CBCS, the increase in required reserves, and the net purchase of CDs.
Following strong interest rate hikes in 2022, more moderate increases in 2023, and no changes since July 2023, the U.S. federal Reserve (Fed) seems to be approaching the moment of a first cut of its policy rate. Due to slower economic growth and cooling inflation, the Fed is expected to start gradually lowering its fed funds rate as of its next policy meeting on September 18, 2024. Even though inflation is still above the 2.0% target, the Fed is expected to balance its dual mandate of moderate inflation and maximizing employment, which has recently shown signs of slowing down. “Given the expectation of a first cut in the fed funds rate, interest rates in the international money market are likely to decline gradually over time and, consequently, the interest rates in the money market of the monetary union of Curaçao and Sint Maarten, considering the peg of the NAf. to the U.S. dollar”, Dr. Jardim indicated.
Against this background, the CBCS decided to change the pledging rate for the first time since September 2023, by reducing it from 5.75% to 5.25%. Furthermore, the CBCS will continue to offer attractive rates on its weekly auctions of CDs with the aim to hold more bank liquidity domestically to support the preservation of a solid foreign exchange position”, Dr. Jardim concluded.

Willemstad September 16, 2024
CENTRALE BANK VAN CURACAO EN SINT MAARTEN

PHILIPSBURG:--- Twenty-two individuals from the National Recovery Program Bureau’s (NRPB) Livelihood Restoration Plan this week began a transformative journey by pursuing English as a Second Language (ESL) at the University of St. Martin (USM). This initiative is a key part of NRPB’s effort to support residents who were relocated from areas adjacent to the landfill. The relocation of this community was necessary for the NRPB to make crucial interventions in the waste management at the dump under the Emergency Debris Management Project (EDMP) in the aftermath of Hurricane Irma, which devastated St. Maarten seven years ago.
USM’s ESL program has helped dozens of residents over the years to learn English or improve their English language skills.
“This initiative is about much more than learning a new language,” said USM ESL Coordinator Corinne Lejeuz-van Putten. “It’s about empowering individuals with the skills they need to rebuild their lives and contribute meaningfully to the community. We are proud to support NRPB in this important endeavor.”
The resettled residents of Pond Island are being supported by NRPB according to World Bank guidelines, which ensure that they are either better off or, at the very least, not worse off after their relocation. In addition to ESL classes, NRPB’s Livelihood Restoration Plan includes vocational courses such as Financial Literacy, Basic IT/Computer Operational Skills, and a Food Handlers Certification. The courses were chosen based on the skills of the relocated people with the intention of helping them to find employment or to create a supplemental source of income.
This project is implemented by the NRPB on behalf of the Government of St. Maarten under the St. Maarten Trust Fund, which is financed by the Government of the Netherlands, and managed by the World Bank. The Livelihood Restoration Plan is part of the NRPB’s broader Resettlement Action Plan that helped relocate these residents to better living conditions.
The participants took placement tests last week to gauge their English proficiency and determine which level of the ESL course they would begin studying. ESL classes for everyone begin on September 23rd and are made up of three 2-hour sessions a week. The course focuses on speaking, listening, reading, and writing, providing a well-rounded foundation for students to enhance their English-speaking skills. With USM’s commitment to small class sizes and personalized instruction, participants can expect guided support as they learn.
Alvaro Vadillo, EDMP Project Manager at NRPB, expressed the organization's focus on restoring and improving the livelihoods of people affected by the Emergency Debris Management Project. “By offering comprehensive programs such as ESL, we ensure that the individuals we resettled are supported and empowered to succeed. This initiative, guided by the World Bank’s safeguard policies, is part of our broader obligation to guarantee that the communities we work with are not left worse off. Knowing the participants are taking steps toward better futures demonstrates the positive impact of the Livelihood Restoration Plan.”
The collaboration between NRPB and USM reflects a shared goal of empowering St. Maarten residents to build better futures. The Livelihood Restoration Plan (LRP), with its focus on restoring and enhancing existing livelihoods, reflects the NRPB’s commitment to supporting people affected by the EDMP by helping them continue what they know best while also providing opportunities for improvement and diversification.
According to Dr. Gale T C Rigobert. Dean of Academics, “USM’s role in this initiative underscores its ongoing dedication to lifelong learning and community development.” USM offers several degree programs in areas such as business, social work and education, along with GED courses, which equip people with high school equivalency diplomas.
For more information on ESL and USM, contact This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.usm.sx.