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International Monetary Fund. Western Hemisphere Dept.
Weak growth and underlying structural vulnerabilities persist in both Curaçao and Sint Maarten. Worsened macroeconomic conditions—reflecting the spillovers from one of Curaçao’s largest trading partners and the devastation from Hurricanes Irma and Maria in Sint Maarten—make the need for policy adjustment and structural reforms aimed at ensuring fiscal sustainability, enhancing competitiveness, strengthening investor confidence, and developing capacity more urgent.
International Monetary Fund. Western Hemisphere Dept.

costs of doing business, including through streamlining and modernizing regulations, and facilitating economic adjustments and attracting investments through improved business environment, resilient infrastructure, and more dynamic labor markets should help enhance growth, productivity, and competitiveness of the economies. Fiscal policy and structural reforms in both countries should contribute to safeguarding external stability. The external positions of Curaçao and Sint Maarten are moderately weaker than justified by medium-term fundamentals and desirable

Ms. Patricia Alonso-Gamo and Mr. Martin Sommer

positions of Curaçao and Sint Maarten are moderately weaker than justified by medium-term fundamentals and desirable policies ( Annex II ). Table 5. Curaçao and Sint Maarten: Balance of Payments, 2013–23 (Millions of U.S. dollars unless otherwise indicated) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Proj. Current account -747 -607 -496 -604 -626 -790 -886 -852 -785 -779 -784 (percent of GDP) -17.9 -14.4 -11.7 -14.4 -15.0 -19.3 -21.0 -19