Tax-News.Com Archive

Sponsored by: PEARSE TRUST
Independent advice on corporate and trust structures

ARCHIVE ROOT | TODAY'S NEWS | LOWTAX

Dutch Government Bails Out Antilles
By Tax-news.com

18 December 1999

The Dutch Government has bailed the Netherland Antilles out of their financial crisis by promising to give 130 million guilders to support the Antilles.

80 million of these guilders will be used to bolster the Antilles public finances, which are still heavily indebted.  The Antilles have been awaiting approval by the International Monetary Fund of a National Recovery Plan, but the money promised by the Dutch will go a long way to helping recover their struggling public finances until the IMF deliberates on the Plan in March 2000.

The Dutch Government has told the Antilles Central Government that the 80 million guilders should be used for implementing the Recovery Plan and has asked to be kept informed of how it is spent.

The other 50 million guilders will go to help the Antilles recover from damage done by Hurricane Lenny.

.

 


IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.