Agreement on Kingdom Act St Maarten, Aruba, Curaçao And The Netherlands

Agreement on Kingdom Act St Maarten, Aruba, Curaçao And The Netherlands

Aruba, Curaçao, Sint Maarten and the Netherlands have reached agreement on the submission of the proposal of the Kingdom Act of the Caribbean Agency for Reform and Development, COHO.

The Kingdom Act forms the foundation for a new form of multi-year cooperation between the countries in the Kingdom.

The economies of Aruba, Curaçao and Sint Maarten have been severely affected by the COVID-19 pandemic. The Netherlands offered help in the fight against Covid-19 and also supported with food packages. In addition, EUR 1 billion in emergency aid in the form of liquidity loans was provided to support public finances in the event of a sudden cessation of economic activity. C(A)ft
The four countries have made a number of changes in order to reach a final agreement on the elaboration of the Kingdom Act. These include clearer agreements with the countries about the incorporation of the country packages in the various budgets. It has also been agreed that the objections that exist about the powers of the financial supervisors C(A)ft will be further elaborated in the implementation phase.

Agreements on the possible implications of the elaboration of the cooperation protocol between the C(A)ft and COHO, including the mutual tasks, roles and responsibilities, are also laid down. COHO and the C(A)ft will consult with the governments of the countries about the cooperation protocol before it can be established or amended.

Constitutional legal order

Aruba, Curaçao and Sint Maarten have drawn attention to a number of concerns regarding the enforceability of the law within the constitutional legal order. These points include guaranteeing policy space and autonomy of governments, the convergence between C(A)ft and COHO and the space for investment to be able to implement the reforms and accompanying policies. The Netherlands has promised to discuss this and make agreements.

The bill now goes to the States of the countries and the House of Representatives. Later in the process, the Senate will also consider it.

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