The Caribbean Body for Reform and Development COHO law sent to Parliament is bound to be met with some resistance in St. Maarten particularly by opposition members (see related stories). It was already clear that concerns of the three Dutch Caribbean countries regarding the effect on their autonomy and “problem ownership” might be difficult to fully address.
After all, going too far could erode the new entity’s authority when it comes to monitoring the execution of a so-called “country package” with restructuring measures as condition for continued coronavirus-related liquidity support from the Netherlands. The role of the Committee for Financial Supervision CFT regarding the COHO has in any case been clarified.
There is also an expressed willingness to “make further agreements” on remaining outstanding issues. While that may seem rather open-ended and probably won’t satisfy everyone, there had been an urgent need to get on with this matter.
St. Maarten did not request any more soft loans from The Hague for the first quarter of 2022. However, it will require such assistance during the rest of the year to cover the expected budget deficit.
So, there was ultimately little choice but to work with The Hague and count on more understanding for the positions and circumstances of the islands than shown by former State Secretary of Kingdom Relations Raymond Knops (CDA) from his successor Alexandra van Huffelen (D66). Her upcoming visit should give an indication in that sense.
The adjusted draft COHO Kingdom Act is obviously still far from ideal, but can at least serve as a starting point to help keep the recovery process going.
