Finance Minister Marinka Gumbs performed the symbolic and official exchange from NAf to the Cg to bring the very first Caribbean guilder into circulation at the CBCS St Maarten office on Monday. Looking on is CBCS President Richard Doornbosch (John Halley photo).
PHILIPSBURG--Minister of Finance Marinka Gumbs, officially closed the chapter on the Netherlands Antillean guilder (NAf) by performing the first symbolic exchange to introduce the Caribbean guilder (Cg) as legal tender on Monday.
A toast being made to usher in the new Caribbean Guilder at the CBCS office on Monday (John Halley photo).
The exchange marks the dawn of a new era for both St Maarten and Curaçao, where the new currency went into effect.
President of the Central Bank of Curaçao and Sint Maarten (CBCS) Richard Doornbosch underscored the importance of the occasion. “We are making history together. A chapter that began 73 years ago with the introduction of the Netherlands Antillean guilder comes to an end today [Monday], making way for something new, something that belongs to us,” he said during the ceremony.
Doornbosch said the Caribbean guilder is not just a currency, but a symbol of trust. “The Caribbean guilder is more than just a means of payment. It is a symbol of trust – in our economy, in our institutions, but above all: in each other. Trust that we – together – can chart a course towards a stable, inclusive, and sustainable future,” he stated.
Reflecting on the extensive journey to bring the new currency to life, he remarked, “The road to today has been long and intensive. Over the past years, we have worked with dedication on the development of a new currency – Safe, modern, and recognizable, rooted in our culture and identity, and designed according to the highest international security standards.”
Doornbosch also expressed his gratitude to the communities of St. Maarten and Curaçao for their support throughout the process. “Your warm reactions, your feedback, and the way you have embraced the Caribbean guilder… it gave us the confidence to make this process a success,” he said. “We have every reason to be proud. Because the result is impressive. The Caribbean guilder feels not only familiar – it is ours.”
He extended thanks to various stakeholders, including the CBCS Board of Supervisors, banks, technical teams, the Public Prosecutor's Office, the FIU, the media, and CBCS employees, whose collective efforts ensured the successful transition to the Caribbean guilder.
A special mention was made to the XCG project team, whose dedication made the launch possible. “Your commitment, attention to detail, creativity, and determination have made this project what it is today,” Doornbosch said. “Today, we are bringing a beautiful currency into circulation. And the world is watching.”
Doornbosch reminded the audience, “Let this moment be a reminder: That trust is the foundation of every sustainable change. And that we, as countries, are capable of making a positive difference together.”
