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Business and Economics > Budgeting

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Cover IMF Staff Country Reports
Kingdom of the Netherlands-Curacao and Sint Maarten: 2019 Article IV Consultation-Press Release and Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands-Curacao and Sint Maarten
International Monetary Fund. Western Hemisphere Dept.
This 2019 Article IV Consultation focuses on Curaçao and Sint Maarten’s near and medium-term challenges and policy priorities and was prepared before coronavirus disease 2019 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. The fiscal position in Curaçao improved in the past two years, in part due to implemented fiscal measures. Both Curaçao and Sint Maarten would benefit from introducing a Fiscal Responsibility Framework. It could incorporate a central government debt ratio as a long-term anchor and operational rules calibrated to meet it. The report suggests that risks in the financial sector need to be addressed as a matter of priority. The authorities should develop a strategy for addressing financial sector vulnerabilities with the objective of preserving financial stability while minimizing fiscal costs. Significant strengthening of supervision and a complete overhaul of the bank resolution framework are also urgently needed. An across-the board improvement in the governance framework should be a key priority in both countries. Vulnerabilities in the financial system point to the need to strengthen governance in the financial sector.
Keywords:
ISCR; CR; Sint Maarten authorities; IMF staff estimate; en Sint Maarten; Curaçao payroll process; article IV consultation discussion; economy of Sint Maarten; Sint Maarten authority; trust fund; labor market; recovery in Sint Maarten; financial system; current account; CAD in Curaçao; consultation discussion; liability positions vis-à-vis nonresident; capital expenditure; union GDP; Fiscal stance; Tourism; Caribbean; Global; Extra-budgetary funds
Cover IMF Staff Country Reports
Kingdom of the Netherlands—Curaçao and Sint Maarten: 2018 Article IV Consultation-Press Release and Staff Report
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.
Keywords:
ISCR; CR; discussion; real GDP; government; IMF staff estimate; liability positions vis-à-vis nonresident; growth in Curaçao; positions of Curaçao; finance of Curaçao; Budget planning and preparation; Fiscal space; Caribbean; Global
Cover IMF Staff Country Reports
Kingdom of the Netherlands—Netherlands Antilles: Staff Report for the 2001 Article IV Consultation Discussions
International Monetary Fund
The past decade has witnessed a progressive weakening of the Antillean economy, and prospects for a recovery depend on reinvigorating and sustaining adjustment. There is a need for more vigorous reforms, well coordinated across governments and supported by building social consensus. Fiscal policy can support growth over the medium term by reforming the tax system and lowering the tax and administrative burden on the private sector. Continuing progress with structural reforms is critical to improve the prospects for job creation and economic growth.
Keywords:
ISCR; CR; product market rigidity; rigidity; exchange rate; discussion; headline inflation; private sector; Antillean authorities; labor market; Budget planning and preparation; Government debt management; Caribbean
Cover IMF Staff Country Reports
Kingdom of the Netherlands—Netherlands Antilles: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper and Statistical Appendix explores four policy issues—fiscal policy, public sector pension reforms, monetary management, and labor market performance—which are crucial for understanding the recent performance of the economy of the Netherlands Antilles and which will need to be addressed to restore the prospect of durable economic growth. The paper reviews experience with fiscal adjustment in the Netherlands Antilles, focusing in particular on the 1996–97 adjustment program. The paper also analyzes the sustainability of the public pension system of the country.
Keywords:
ISCR; CR; Antillean economy well; economy; government; labor market performance; premium; Antillean labor market; economy of the Netherlands Antilles; economy's flexibility; credit growth; Pension spending; Pensions; Labor markets; Caribbean