Caribbean guilder
Encyclopedia
The Caribbean guilder is the proposed currency of the Caribbean
islands of Curaçao
and Sint Maarten which formed after the dissolution of the Netherlands Antilles in October 2010. The Netherlands Antillean guilder is expected continue to circulate until 2013 as the currency was not finalised in time for the islands' separate autonomous status. The currency will be abbreviated CMg (for Curacao, Sint Maarten guilder) and will be pegged to the US dollar at the same exchange rate as the Netherlands Antillean Guilder (1 USD = 1.79 NAg = 1.79 CMg). As the BES islands
have adopted the U.S. dollar directly on 1 January 2011, the introduction of he CMg means the end of the circulation of the Netherlands Antillean guilder.
) with a chairman chosen by both countries. The two countries will also appoint six further members of the Supervisory Board of Directors. The currency will be phased in over three months. The 2.5 guilder coin as well as the 25 guilder notes present in the Netherlands Antillean guilder series (as well as in the other guilder sets in the Kingdom of the Netherlands) will not be printed and will be replaced by 20-based denominations.
Caribbean
The Caribbean is a crescent-shaped group of islands more than 2,000 miles long separating the Gulf of Mexico and the Caribbean Sea, to the west and south, from the Atlantic Ocean, to the east and north...
islands of Curaçao
Curaçao
Curaçao is an island in the southern Caribbean Sea, off the Venezuelan coast. The Country of Curaçao , which includes the main island plus the small, uninhabited island of Klein Curaçao , is a constituent country of the Kingdom of the Netherlands...
and Sint Maarten which formed after the dissolution of the Netherlands Antilles in October 2010. The Netherlands Antillean guilder is expected continue to circulate until 2013 as the currency was not finalised in time for the islands' separate autonomous status. The currency will be abbreviated CMg (for Curacao, Sint Maarten guilder) and will be pegged to the US dollar at the same exchange rate as the Netherlands Antillean Guilder (1 USD = 1.79 NAg = 1.79 CMg). As the BES islands
BES islands
The Caribbean Netherlands collectively refers to the three special municipalities of the Netherlands that are located overseas, in the Caribbean: Bonaire, Sint Eustatius and Saba...
have adopted the U.S. dollar directly on 1 January 2011, the introduction of he CMg means the end of the circulation of the Netherlands Antillean guilder.
Organization
The launch of the currency was delayed until 2013 and will be governed by the law on the monetary system of Curaçao and Sint Maarten . The currency will be issued by the Central Bank of Curaçao and Sint Maarten (the successor of the Bank of the Netherlands AntillesBank of the Netherlands Antilles
The Central Bank of Curaçao and Sint Maarten is the central bank of the former Netherlands Antilles. It is responsible for issuing the Netherlands Antillean guilder....
) with a chairman chosen by both countries. The two countries will also appoint six further members of the Supervisory Board of Directors. The currency will be phased in over three months. The 2.5 guilder coin as well as the 25 guilder notes present in the Netherlands Antillean guilder series (as well as in the other guilder sets in the Kingdom of the Netherlands) will not be printed and will be replaced by 20-based denominations.