PHILIPSBURG--The St. Maarten Hospitality and Trade Association (SHTA) has called for an "impartial study" regarding dollarization to determine what the best option is for St. Maarten.
The association said it made its call after "much debate on whether Cura�ao and St. Maarten should follow the Dutch Municipalities - Bonaire, Statia and Saba - in adopting the US dollar as the official currency."
While dollarization may seem like the most obvious choice, the SHTA said, the association feels "there could be underlying long-term effects, which may not have been thoroughly explored."
"Furthermore, the SHTA is of the impression that only person(s) in favour of this option have been consulted and therefore the recommendations have been biased. This, like many other decisions that have to be made now that we are a country, needs to be carefully and meticulously explored through an impartial assessment," the SHTA said in a statement.
The SHTA's call came a day after Central Bank of Cura�ao and St. Maarten President Emsley Tromp made a case for the two countries opting to the use of the US dollar - opting for dollarization.
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