Board Of Financial Supervision (CFT) Visits Statia

Oranjestad, St. Eustatius – The Board of Financial Supervision Bonaire, St. Eustatius and Saba (CFT) visited St. Eustatius on Monday, July 5th, 2021 to meet with the Government Commissioners Alida Francis and Claudia Toet. During the meeting the progress in the financial area since the Temporary Neglect Act was discussed. CFT was informed of the progress of the improvement plan and the measures that were taken.

The challenges of Statia with regards to the significantly lower tax revenues due to the worldwide pandemic COVID-19 was also deliberated on. Related to COVID-19, another topic on the agenda was the low vaccination rate and its effects on the island. CFT also had a meeting with the Island Council and the Finance Department of the Public Entity.  Ruud Hovelings. Director of Business Operations and Customer Services of the Public Entity, supported the Government Commissioners in the meeting with the CFT officials.


After the meeting, the delegation visited several projects on the island such as the completed roads, the new STUCO water tank, phase 2 of the Felicia Viola van Zanten assisted Living Complex, the pilot project social housing being carried in Golden Rock by Bazalt and the Fort Oranje cliff. The CFT welcomed the visible improvements and the completed projects on the island. The CFT is positively impressed by the improvements on general and financial matters that were made since the last visit at the end in 2019”, says Raymond Gradus, Chairman of CFT.

The Board of Financial Supervision Bonaire, St. Eustatius and Saba is responsible for advising the governments of the Public Entities and for the guidance of the Executive Councils with the daily financial management. The CFT has the role to control and correct the financial administrations of the Public Entities. This includes structuring and composing of the budget and the formulation of decisions with financial consequences.

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