Caribbean guilder


The Caribbean guilder is the proposed currency of the Caribbean islands, and constituent countries of the Kingdom of the Netherlands, Curaçao and Sint Maarten, which formed after the dissolution of the Netherlands Antilles on October 10, 2010. As of January 2018, the Caribbean guilder has not been introduced.
Since 2018 banknotes and coins, which were not in production pending decision on the currency, would now require replacement; there were only two years of Antilles guilder remaining and there was still a possibility that the islands could opt for the dollar or euro instead.

Negotiations

The Netherlands Antillean guilder will continue to circulate and plans to implement the Caribbean guilder will not be finalized until the islands' Central Bank situation is resolved. The new currency will be abbreviated CMg and would be pegged to the United States dollar at the same exchange rate as the Netherlands Antillean guilder. As the BES islands adopted the U.S. dollar directly on 1 January 2011, the introduction of the CMg would mean the end of the circulation of the Netherlands Antillean guilder.
In April 2014, Curaçao and Sint Maarten agreed to look into the possibility of Curaçao having its own central bank. As long as further negotiations continue, the Caribbean guilder will not be introduced. In July 2015, the Minister of Finance of Curaçao, José Jardim, stated that research on a monetary union between Curaçao and Sint Maarten was not a priority.
Former Curaçao MP Alex David Rosaria cites a major problem with the proposed union is the lack of any forum to discuss macroeconomic coordination.

Organization

The launch of the currency was delayed until the islands' Central Bank situation is resolved. The currency is supposed to be issued by the Central Bank of Curaçao and Sint Maarten with a chairperson chosen by both islands' prime ministers. The two islands would also appoint six further members of the supervisory board of directors. The currency would be phased in over three months. The -guilder coin and the 25-guilder notes present in the Netherlands Antillean guilder series would not be issued, but would be replaced by 2- and 20-guilder denominations.