Review
Philipsburg –The Minister of Finance received the International Monetary Fund (IMF) mission
team, led by Mr. Smith, currently conducting a Central Bank Transparency Code (CBT) review on
request of the Central Bank of Curaçao and Sint Maarten (CBCS).
In July 2020, the Executive Board of the IMF adopted the Central Bank Transparency Code (CBT)
as a voluntary framework designed to help central banks assess and strengthen their transparency
practices. The Code aims to enhance communication with stakeholders, reinforce public trust,
safeguard central bank independence, and promote accountability in the execution of monetary and
financial stability policies.
The CBT defines transparency as an institutional feature that ensures comprehensive public access to
information about the central bank’s mandate, operations, and governance while maintaining an
appropriate balance between openness and legitimate confidentiality.
As part of the review, the IMF team is assessing CBCS’s transparency practices across all aspects of
its work. The review process includes an analysis of publicly available information such as
publications, legislation, policy documents, and the central bank’s website alongside interviews with
external stakeholders to gather perspectives on the accessibility, clarity and transparency of
information shared by the CBCS.
Following the completion of the assessment, the IMF will prepare a draft report to be shared with the
CBCS. The final report is expected in the first half of 2026, after which the CBCS will decide
whether to make it publicly available.
During the meeting, the Minister shared her input, based on her experience, on the transparency,
consistency and clarity of information shared by the CBCS. Minister of Finance Marinka J. Gumbs
expressed appreciation for the IMF team’s visit and noted the importance of this initiative in
strengthening financial governance and transparency. She stated that she looks forward to the report
and emphasized that she would like to see the differences between Curaçao’s and Sint Maarten’s
perspectives reflected in the findings.