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Business and Economics > Industries: Hospital,Travel and Tourism

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Cover IMF Staff Country Reports
Kingdom of the Netherlands-Curaçao and Sint Maarten: 2024 Article IV Consultation Discussions-Press Release and Staff Report
International Monetary Fund. Western Hemisphere Dept.
The 2024 Article IV Consultation presents that Curaçao and Sint Maarten have continued to experience a vigorous post-pandemic recovery underpinned by strong stayover tourism, which is outperforming Caribbean peers. Headline inflation has declined rapidly led by international oil price developments, notwithstanding a recent uptick, while core inflation remains elevated. In both countries, current account deficits improved markedly from pandemic years but remain high. Fiscal positions remained strong and in compliance with the fiscal rule. Growth is expected to accelerate in 2024 before gradually converging to its potential over the medium term. Stayover tourism supported by fiscal expansion is projected to drive economic growth at a robust 4.5 percent in 2024 due to new airlifts and further expansion in hotel capacity. Both countries need more public investments and strategies to improve tourist experience and enhance tourism’s value added, including adequate infrastructure to allow for timely ground transportation and continued efforts to improve the quality of services provided.
Keywords:
Sint Maarten team; en Sint Maarten; Curaçao team; IMF staff estimate; Curaçao mission; IT investment; Tourism; Labor markets; Caribbean; Global
Cover IMF Staff Country Reports
Seychelles: 2024 Article IV Consultation, Second Reviews Under the Arrangement Under the Extended Fund Facility and the Arrangement Under the Resilience and Sustainability Facility, Requests for a Waiver of Nonobservance and Modification of Performance Criteria-Press Release; and Staff Report; and Statement by the Executive Director for Seychelles
International Monetary Fund. African Dept.
This paper presents Seychelles’ 2024 Article IV Consultation, Second Reviews under the Arrangement under the Extended Fund Facility (EFF) and the Arrangement under the Resilience and Sustainability Facility (RSF), Requests for a Waiver of Nonobservance and Modification of Performance Criteria. The government has made considerable progress under the EFF and RSF Arrangements—strengthening fiscal and external buffers, reducing public debt, and enhancing the policy framework to address climate change. Long-term challenges center on the limits to sustainable tourism-based growth, economic diversification, and Seychelles’ high vulnerability to the effects of climate change. The policy framework is guided by the need to preserve macroeconomic and financial sustainability, build fiscal and external buffers, as well as advance prospects for long-term inclusive growth and economic resilience, in line with the objectives under the EFF and RSF. Toward this end, the mission agreed with the authorities on a revised macroeconomic framework and quantitative program targets consistent with the program objectives of steady fiscal consolidation and reduction of public debt over the medium-term.
Keywords:
framework enhancement; Seychellois authorities; government efficiency; tourism sector; government priority; Tourism; Government debt management; Imports; Global; Africa