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Kingdom of the Netherlands—Aruba: Staff Report for the 1999 Article IV Consultation
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1999: Issue 047
Language:
English
Publication Date:
01 Jul 1999
DOI:
https://doi.org/10.5089/9781451800029.002
ISBN:
9781451800029
ISSN:
1934-7685
Pages:
37
Keywords:
ISCR; CR; government; Aruba; Aruban authorities; IMF staff estimate; Aruba well; Aruba's performance; central bank of Aruba; reform proposal; U.S. dollar; foreign exchange; Arrears; Civil service; Commercial banks; Current spending; Europe; Caribbean
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This 1999 Article IV Consultation highlights that Aruba’s real GDP grew at an annual rate of some 3 percent in 1998, while inflation remained subdued at about 2 percent. Comparable rates of satisfactory growth and low inflation have characterized the island’s development since the mid-1990s, following a period of double-digit growth when an investment boom in the hotel sector brought about the transformation of Aruba into a tourism-based economy. The outlook for satisfactory growth and low inflation had been threatened, however, by an undue relaxation of fiscal policy in 1996 and continued laxity through mid-1998.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund