GOA, has reserve funds, to pay subsidies for the month of July.

Belly full, happy heart, is a popular Papiamento saying.

It is especially true this week, thanks to the following headline:

Gobierno tin fondo reserva pa por paga subsidio di salario pa luna di Juli 2020

Yes, after a period of insane ‘no money’ pressure, GOA did find enough funds to pay for the JULY payroll WITHOUT Dutch assistance.

Did you ever wonder how come GOA suddenly has sufficient funds to pay its bills.

One minute it is totally broke, the next it is flush with cash?

They must have dipped into APFA’s funds for immediate funding or SVB, confident the third tranche will eventually materialize to cover that short-term borrowing, probably at 6%, no guarantees, no conditions, VS a loan from the Dutch at zero interest but attached to conditions.

APFA the pension fund, or SVP our social insurance bank, probably responded to GOA’s desperate plea and ‘made the investment.’

They gambled that Dutch assistance will materialize and the short-term loan will be covered.

APFA & SVB are the only two addresses available to GOA in searche of cash.

Good gamble or not, time will tell.

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July 28, 2020
Rona Coster