‘Cft rather partner of governments than supervisor’

Monday, January 30, 2012

WILLEMSTAD — “There is more and more understanding for the need of financial supervision. I think this is because we are living in a very uncertain economic world, with huge challenges, such as the economic situations in America and Europe. In such uncertain situations, one needs something to hold on to,” says Professor Age Bakker, the new chairman of the Council financial supervision, in an exclusive interview with the Amigoe. Professor Bakker is rather inclined to see the Cft as a partner of governments in the field of financial management, than as supervisor.

The Council visited Curaçao last week. For Professor Bakker and Richard Gibson, the member recommended by St. Maarten, this was the first official visit to the island. The Council held meetings with the Governor of Curaçao Frits Goedgedrag, the Minister of Finance George Jamaloodin, the Council of Ministers, the Task Force Financial Management and Policy, and the Financial Committee of the States. Besides meetings as regards content, the mutual conclusion during all conversations was that the cooperation between the Cft and the country Curaçao is satisfactory.

According to Professor Bakker, who was administrator with the IMF in Washington until recently, and now holds a chair at the Free University of Amsterdam, sound government finances are not only necessary because the supervisor requests such. It’s necessary for the countries themselves and for the citizens. Balanced government finances, thus a balanced budget, are more and more the standard in many countries worldwide. As an example, Professor Bakker mentions the fact that many countries in Europe receive guidance in the financial field from Brussels. As opposed to former days, when people were unfamiliar with higher supervision on the islands, Professor Bakker concluded during his visits to St. Maarten and Curaçao that institutes such as the Cft are viewed more and more as a partner. “I wish to see my role as supervisory partner as a stimulating supervision and, where necessary, also as a trusted advisor. The supervisory function remains the most important, but we also want to be a ‘trusted advisor’”, said Professor Bakker.

Beautiful mission

“The citizens of Curaçao have a right to sound government finances; everyone understands this and they all wish to contribute towards this. I not only find this a challenge, but also a beautiful mission.” Professor Bakker also hopes he will deserve the trust he needs the coming years. “We have a very strong Council with people who have much administrative experience”, said Professor Bakker. He mentioned Richard Gibson, who was recently appointed representative of St. Maarten, someone with ‘tremendous experience’. Also the former Lieutenant Governor of the Windward Islands, Max Pandt, has much experience in the field of administrative affairs. Alberto ‘Chos’ Romero radiates enormous power’ on Curaçao, according to Bakker, because of his independent position. “Without these members, I don’t know if I would have dared to accept the task”, Professor Age Bakker said in an exclusive interview with the Amigoe
 

Source: Amigoe.com
Bob Harms