Kingdom of the Netherlands-Curaçao and Sint Maarten: Staff Concluding Statement 2018 Article IV Mission

Topic Economy, Public Finance, Tax - Reading time 1 - 2 minutes

A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or 'mission'), in most cases to a member country. Missions are undertaken as poart of regular (usually annual) consultations under Article IV (/external/pubs/ft/aa/aa04.html) of the IMF's Articles Agreement, in the context of staff monitored programs, or as part of other staff monitoring of economic developments.

A Concluding Statement describes the preliminary findings of IMF staf at the end of an official staff visit (or 'mission'), in most cases to a member country. Missions are undertaken as poart of regular (usually annual) consultations under Article IV (/external/pubs/ft/aa/aa04.html) of the IMF's Articles Agreement, in the context of staff monitored programs, or as part of other staffmonitoring of economic developments.

Weak growth and underlying structural vulnerabilities persist in both Curaçao and Sint Maarten, magnified further by large negative external shocks, including spillovers from one of Curaçao's largest trading partners and the impact of Hurricanes Irma and Maria on Sint Maarten. The fiscal and external positions of both countries deteriorated, and significant uncertainty is impacting economic activity adversely. The challenging outlook makes the need for structural measures aimed at ensuring fiscal sustainability, enhancing competitiveness, strenghtening investor confidence, and developing capacity more time-critical. The authorities recognize the need to act decisively to put both economies on the path of higher and sustainable growth.

Recent Economic Developments

Outlook and Risks

Total pages 7 • Language English 

Source: International Monetary Fund (IMF)

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