Caribbean Review: The Caribbean Guilder’s Importance For Autonomy

Curaçao and Sint Maarten’s new currency design, the Caribbean Guilder, has replaced the Netherlands Antillean Guilder. The transition signifies economic unity amongst the islands, depicting landmarks and marine life from both islands. It is also a step towards economic autonomy from the Netherlands. 

The New Guilder

The Caribbean Guilder was officially introduced on March 31, 2025, and has been widely accepted by residents of Sint Maarten and Curaçao. Netherlands Antillean Guilders are able to be exchanged, however, until March 2026. The new currency was designed to help facilitate international trade and ensure economic security, partly through the weight that setting a new stable currency has on attracting more foreign investors. 

Before the launch, the Central Bank of both countries launched a mobile app called “My Caribbean Guilder” so citizens can access background information on the currency designs and security features. 

The coins feature maritime themes like shells and sealife, reflecting the islands’ connection to and reliance on the ocean. Curaçao and Sint Maarten also have slightly different coin designs, displaying a unique national identity. The decision to remove “Netherlands” from the currency name also shows national identity, though cited to avoid confusion, the name “Caribbean Guilder” has also declared economic and social autonomy from the Netherlands. The currency being shared also strengthened the monetary and cultural unity between Curaçao and Sint Maarten. 

The removal of the word “Antilles” is also significant, as the word derives from a pre-Columbian mythical island, Antilia, and was adopted by European explorers to name the archipelago they came across. The word has colonial weight and its removal, even if accidental, symbolizes a modern, more independent Caribbean. 

Dutch Power Over Curaçao and Sint Maarten

Curaçao and Sint Maarten have an interesting relationship with the Kingdom of the Netherlands. They have in the past sought loans from the Netherlands, citing an inability to meet repayment to mainland Dutch banks and the government, resulting in the Netherlands implementing financial reform packages. The local government of the islands often resist these conditions. The Dutch government has had suspicions of corruption within the governments of the islands, leading to conflict over how much the Dutch should interact with the internal affairs of Curaçao and Sint Maarten. The Dutch government also has a responsibility for the defense and foreign affairs of the islands, but local governments sometimes don’t like that much Dutch involvement. Both countries were in the Netherlands Antilles that dissolved in 2010, creating them as constituent countries within the Kingdom of the Netherlands. 

The Netherlands Antillean Guilder was originally introduced in the 19th century by the Netherlands colonial administration. First used in 1828, the Guilder was used in transactions including the trade of sugar and slaves, making it an important currency in the Caribbean plantation market. Thus the same currency used to buy slaves was, until this year, used by descendants of slavery in everyday transactions. Money holds a lot of symbolic importance within communities. The display of historical figures on money could show support for their actions in life, good or bad, or it could signify the lack of change in a society. Many nations, like the United States, still have controversial figures on currency, which has caused a lot of debate in the modern-day rapid changing of societies. 

There have been movements within Curaçao and Sint Maarten to steer away from being overseen by the Dutch. The Movement for the Future of Curaçao (MFK) is a political party associated with calls for greater self-governance within Curaçao. 

Backlash

The Caribbean Guilder has, however, received backlash. In April 2025, the Ombudsman of Curaçao, an elected official responsible for addressing public complaints about government decisions, said the currency change has proven problematic in practice. Individuals and businesses claimed they are unable to exchange the old currency at the established one-to-one value. Often, the money must first be deposited into a bank account before it can be withdrawn as Caribbean Guilder, a difficult task for residents without adequate banking services. 

Banks have also been found to be charging fees for exchanging the new currency for the old, a condition not specified in the launch. The Ombudsman received reports of the government and companies refusing to accept banknotes over one hundred Netherlands Antillean Guilder. At this point, the currency was still legally valid. The Ombudsman called for active monitoring and the setting of uniform and clear guidelines, including no fees for exchange and all banknotes being accepted during the exchange. 

Another critique was the lack of accurate representation within Curaçao due to language. The primary languages within Curaçao are English and Curaçao Papumento, but the language on the new currency is Dutch. This new currency, which was supposed to represent autonomy and economic independence, was written in the language of the power that Curaçao and Sint Maarten are trying to declare financial freedom from.

Though there are critiques of how meaningful the currency change really is, the Caribbean Guilder’s installation is a big step towards financial independence away from the Netherlands. Both Curaçao and Sint Maarten have seen tourism and investment booms within the last year, and the new national currencies are helping the drive towards economic success.