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Western Hemisphere > Curacao

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Cover IMF Staff Country Reports
Kingdom of the Netherlands-Curaçao and Sint Maarten: 2022 Article IV Consultation Discussions-Press Release; and Staff Report
International Monetary Fund. Western Hemisphere Dept.
The economies of Curaçao and Sint Maarten are recovering from the pandemic but facing multiple challenges, including spillovers from the war in Ukraine. Curaçao was in a protracted recession even before the pandemic due to spillovers from the Venezuelan crisis. Sint Maarten needs to fully recover not only from the pandemic, but also from the devastating 2017 hurricanes.
Keywords:
Sint Maarten monetary union; Curaçao team; Sint Maarten team; Sint Maarten well; en Sint Maarten; COVID-19; Public investment spending; Caribbean; Global
Cover IMF Staff Country Reports
Kingdom of the Netherlands-Curaçao and Sint Maarten: Technical Assistance Report-Implementation of Risk-Based Supervision
International Monetary Fund. Monetary and Capital Markets Department
The CBvCSM is the sole supervisory authority for all regulated financial institutions operating locally and in the offshore (or international) sector, as well as the stock exchange in Curacao and St Maarten. The financial sector comprises different types of institutions, which include banks and non-bank institutions, insurance companies (both Life, and Non-life), securities intermediaries, asset management firms, investments institutions, fund administrators, management of pension funds, reinsurers, and trust companies.
Keywords:
supervision department; expert supervision; risk profile; supervision Department; account supervision; Corporate governance; Risk-based supervision; Liquidity; Wages; Pension spending; Caribbean
Cover IMF Staff Country Reports
Kingdom of the Netherlands—Curaçao and Sint Maarten: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
Selected Issues
Keywords:
Kingdom of the netherlands Curaçao; Sint maarten monetary union; Dollarized economy; monetary union of Curaçao; financial system oversight; Dollarization; Monetary unions; Currencies; Exchange rate arrangements; Lender of last resort; Caribbean; Europe
Cover IMF Staff Country Reports
Kingdom of the Netherlands—Curaçao and Sint Maarten: 2021 Article IV Consultation Discussions; Press Release and Staff Report
International Monetary Fund. Western Hemisphere Dept.
The COVID-19 pandemic inflicted another major shock on the economies of Curaçao and Sint Maarten, which followed category 5 hurricanes in Sint Maarten in 2017 and the spillovers of the Venezuelan crisis on Curaçao. Despite the substantial response measures financed by The Netherlands, the economic contraction in 2020 was severe.
Keywords:
article IV consultation discussion; government operation; Curaçao customs; current price; Policy recommendation; Fiscal stance; COVID-19; Caribbean
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 Guide de l'enquête coordonnée sur l'investissement direct, 2015
Guide de l'enquête coordonnée sur l'investissement direct, 2015
Miss Rita Mesias

Abstract

Le Guide de l'enquête coordonnée sur l'investissement direct (ECID) a été préparé pour aider les économies qui participent à cette enquête. L'enquête est menée sous les auspices du département des statistiques du FMI dans un large éventail de pays. Elle est organisée simultanément par tous les pays participants, recourt à des définitions cohérentes, et encourage les bonnes pratiques en matière de collecte, d'établissement et de diffusion de données sur les positions d'investissement direct. Elle constitue donc un outil important pour prendre la mesure des totaux mondiaux et de la répartition géographique des positions d'investissements directs et contribue ainsi à l'établissement de nouvelles conclusions importantes sur l'étendue de la mondialisation, ainsi qu'à l'amélioration de la qualité globale des données sur l'investissement direct dans le monde. Au moment de la rédaction de ce guide actualisé, plus de 100 pays participaient à l'enquête coordonnée.

Keywords:
M&G; background color; country currency
Cover Guía de la Encuesta Coordinada sobre la Inversión Directa 2015
Guía de la Encuesta Coordinada sobre la Inversión Directa 2015
Miss Rita Mesias

Abstract

Esta Guía ha sido elaborada para ayudar a las economías a participar en la Encuesta Coordinada sobre la Inversión Directa (ECID). La ECID, que se está llevando a cabo simultáneamente en todas las economías participantes, se basa en definiciones uniformes, e incentiva la adopción de prácticas óptimas para la recopilación, compilación y divulgación de datos sobre las posiciones de inversión directa. Por lo tanto, la ECID es una herramienta importante para cuantificar el total mundial de las posiciones de inversión directa y para representar su distribución geográfica, contribuyendo así a la formación de nuevas e importantes apreciaciones sobre el alcance de la globalización y al mejoramiento de la calidad general de los datos mundiales sobre inversión directa. Al momento de actualización de la Guía, más de 100 economías participaban en la ECID.

Keywords:
M&G; background color; country currency
Cover IMF Staff Country Reports
Kingdom of the Netherlands—Curaçao and Sint Maarten: 2016 Article IV Consultation Discussions-Press Release; Staff Report; and Informational Annex
International Monetary Fund. Western Hemisphere Dept.
This 2016 Article IV Consultation highlights that the fiscal situation in Curaçao and Sint Maarten remains relatively stable, following the debt relief in 2010, but progress on necessary fiscal and structural reforms has been slow. Curaçao experienced modest growth in 2015 of 0.1 percent, reflecting a turnaround from the contraction of 1.1 percent in 2014. The economy of Sint Maarten expanded by 0.5 percent in 2015, a slowdown compared with the 1.5 percent recorded in 2014. Real GDP growth in 2016 is expected to reach 0.5 percent in Curaçao and 0.7 percent in Sint Maarten. Over the medium term, growth is expected to pick up moderately to 0.9 percent and 1.3 percent for Curaçao and Sint Maarten, respectively.
Keywords:
ISCR; CR; growth prospects; article IV consultation discussion; CPI data; labor market; IMF staff estimate; liability positions vis-à-vis nonresident; exchange regime; Fiscal stance; Caribbean