Minister Gumbs Commends outgoing CBCS President Richard Doornbosch

GREAT BAY--Minister of Finance, Honorable Marinka Gumbs, has expressed her appreciation for the service and leadership of outgoing President of the Central Bank of Curaçao and St. Maarten (CBCS), Richard Doornbosch, recognizing his contribution to the monetary union and his efforts to strengthen the relationship between the Central Bank and St. Maarten.

During a farewell address marking Doornbosch’s departure, Minister Gumbs described his tenure as one characterized by professionalism, stability, sound judgment and a commitment to public service. She particularly acknowledged his efforts to ensure that St. Maarten had a meaningful voice within the monetary union and was treated as an equal stakeholder in discussions affecting the financial and economic interests of both countries.

Minister Gumbs reflected on the relationship that developed between the Ministry of Finance and the CBCS during Doornbosch’s tenure, noting that what began with both sides carefully assessing one another grew into a relationship based on trust, open communication and mutual respect. She emphasized that a productive relationship between a Minister of Finance and an independent central bank does not require agreement on every issue, but rather the ability to engage frankly, respect institutional responsibilities and work toward responsible solutions.

She also credited Doornbosch with consistently making room for St. Maarten’s perspective in discussions concerning financial stability, economic development and institutional strengthening. During his presidency, the CBCS and St. Maarten engaged on several important matters, including financial sector resilience, anti-money laundering and combating the financing of terrorism requirements, modernization of legislation, financial supervision and the future direction of the monetary union.

According to Minister Gumbs, Doornbosch’s accessibility and willingness to engage, including during difficult discussions, were important characteristics of his leadership. She said his tenure came during a period of considerable economic, regulatory, technological and institutional change, yet he remained focused on strengthening the credibility and independence of the CBCS while advancing reforms intended to benefit both countries beyond his time in office.

The Minister also highlighted the importance of institutional continuity, stressing that leadership should ultimately be measured by whether an institution is stronger at the end of a person’s tenure than it was at the beginning. In her assessment, Doornbosch leaves behind a stronger Central Bank, while also having contributed to greater trust and improved dialogue between the CBCS and St. Maarten.

Minister Gumbs noted that Curaçao and St. Maarten may not always share the same perspectives or priorities, but both countries have a fundamental interest in maintaining a stable currency, a strong financial system, credible institutions and greater economic opportunity for their people. She said the relationships strengthened during Doornbosch’s tenure provide an important foundation for continued cooperation within the monetary union.

On a personal note, Minister Gumbs recalled that Doornbosch once told her that when she first became Minister of Finance, he was trying to gauge her. She noted with humor that she had been doing the same with him. Looking back on their working relationship, she described him as a committed public servant, respected professional, valued partner and friend of St. Maarten.

On behalf of the Government and people of St. Maarten, Minister Gumbs thanked Doornbosch for his service, leadership, patience, partnership and commitment to the monetary union. As he begins the next chapter of his career and life, she extended best wishes to him and his family for continued success, fulfillment and good health.

Minister Gumbs concluded by emphasizing that Doornbosch leaves with the appreciation and respect of St. Maarten and will continue to be welcomed by the country.

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