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Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1513539361
Category : Business & Economics
Languages : en
Pages : 85
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Book Description
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.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484395921
Category : Business & Economics
Languages : en
Pages : 63
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Book Description
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.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513594451
Category : Business & Economics
Languages : en
Pages : 79
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Book Description
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.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 107
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Book Description
Curaçao and Sint Maarten, which form a monetary union (Union), are recovering from the pandemic and earlier shocks. Substantial tourism recoveries in both economies supported robust growth and strong fiscal adjustments. Curaçao’s GDP is still below its pre-pandemic level while Sint Maarten is expected to exceed it this year. Both countries are working on structural reform packages, although the focus is still mainly on studies and preparation.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1484336305
Category : Business & Economics
Languages : en
Pages : 61
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Book Description
KEY ISSUES Context: The union’s current account deficit—the key economic vulnerability flagged in the previous (2011) consultation—has declined over the past few years, including thanks to fiscal adjustment in Curaçao. But it remains large. Curaçao’s growth and job creation remain lackluster, due to weak competitiveness, adverse sectoral trends (e.g., in the international financial center), red tape, and rigid labor laws. Sint Maarten’s tourism-based economy is recovering but remains vulnerable to shocks and suffers from weak administrative capacity—as underscored, for example, by weakening tax collection. Risks: Both Curaçao and, especially, Sint Maarten are exposed to shifts in tourism demand. Curaçao is vulnerable to the uncertain situation in Venezuela, its main trading partner. If long-discussed flexibility- and competitiveness-enhancing structural reforms are not implemented, both countries’ capacity to absorb shocks may prove limited, and pressures on FX reserves and, ultimately, the peg may intensify. Policy recommendations: Fiscal policies should entrench recent gains to facilitate continued external adjustment (especially in Curaçao) and build buffers against shocks. Curaçao should extend the reform of its pension system to public sector workers, further streamline its administrative apparatus, and address weak governance and finances in state companies. Sint Maarten needs to increase revenues to support an expanding administration, including through stronger tax collection and greater contribution from its profitable state companies. The common central bank must monitor closely the deterioration in banks’ loan portfolios and refrain from direct financing of non-financial companies. It should also use more standard sterilization tools to control banks’ excess liquidity. Urgent action is required to lower the cost of doing business and remove pervasive disincentives to both supply and demand of labor.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1513539361
Category : Business & Economics
Languages : en
Pages : 85
Get Book Here
Book Description
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.
Author: Brian Kwok Chung Yee
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 5
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Book Description
The International Monetary Fund’s (IMF’s) Statistics Department (STA) provided technical assistance (TA) on financial soundness indicators (FSIs) to Centrale Bank van Curaçao en Sint Maarten (CBCS) during April 25–May 9, 2022. The mission worked with the staff of the CBCS on the development of FSIs that are in line with the IMF’s 2019 FSIs Guide. The mission (i) reviewed the institutional framework for collection and dissemination of FSIs data for both Curaçao and Sint Maarten; (ii) examined the source data, institutional coverage, and accounting and regulatory frameworks used in the compilation of the FSIs for deposit takers (DTs); (iii) assisted the CBCS in compiling FSIs for DTs on the basis of internationally accepted standards as set out in the IMF’s 2019 FSIs Compilation Guide (2019 FSIs Guide) separately for Curaçao and Sint Maarten with the aim of reporting to STA for dissemination; (iv)prepared the accompanying metadata for posting on the IMF’s FSI website; (v) assessed dataavailability to compile FSIs for other financial corporations (OFCs); and (vi) addressed some other issuesrelated to the FSIs compilation and reporting that the CBCS’s staff raised.
Author: Richard Albert
Publisher:
ISBN: 0198793049
Category : Law
Languages : en
Pages : 753
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Book Description
A first-of-its-kind resource studying the operation of constitutional law across the entire Caribbean, embracing the linguistic, political, and cultural diversity of the region, Each jurisdictional chapter shares a common format and structure to aid comparison between different jurisdictions, Contributors from a variety of different disciplines-law, history, and political science-provide a range of perspectives on the study of the region's constitutions Book jacket.
Author: Gilad James, PhD
Publisher: Gilad James Mystery School
ISBN: 1659170206
Category : Travel
Languages : en
Pages : 110
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Book Description
Sint Maarten is a small island located in the northeast Caribbean Sea. It is part of the Kingdom of the Netherlands and has a population of around 41,000 people. The island is divided into two parts: the Dutch side (Sint Maarten) and the French side (Saint Martin). Sint Maarten covers 16 square miles and is known for its beautiful beaches, clear waters, and lively nightlife. The island has a tropical climate and is a popular destination for tourists looking to relax, shop, or participate in water sports such as diving, snorkeling, and jet-skiing. Sint Maarten has a rich history dating back to the 15th century when it was discovered by Christopher Columbus. The island has been home to several different cultures including indigenous tribes, Spanish colonizers, and the Dutch and French. The island also played a significant role in the transatlantic slave trade, which brought many Africans to the island as slaves. Today, Sint Maarten is a multi-cultural society with a variety of languages spoken including Dutch, English, French, and Spanish. The island's economy is heavily reliant on tourism and the hospitality industry, but it also has a thriving agricultural sector and is known for producing a variety of fruits and vegetables.
Author: Lynne M. Sullivan
Publisher: Hunter Publishing, Inc
ISBN: 1588437299
Category : Travel
Languages : en
Pages : 56
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Book Description
We travel to grow a€" our Adventure Guides show you how. Experience the places you visit more directly, freshly, intensely than you would otherwise a€" sometimes best done on foot, in a canoe, or through cultural adventures like art courses, cooking classes, learning the language, meeting the people, joining in the festivals and celebrations. This can make your trip life-changing, unforgettable. All of the detailed information you need is here about the hotels, restaurants, shopping, sightseeing. But we also lead you to new discoveries, turning corners you haven't turned before, helping you to interact with the world in new ways. That's what makes our Travel Adventure Guides unique. The author is fascinated with these islands and her passion comes across in the text, which is lively, revealing and a pleasure to read. Detailed town and regional maps make planning day-trips or city tours easy. Adventures covered range from town sightseeing tours and nature watching to sea kayaking and mountain climbing excursions. Travelers looking for a more relaxed vacation may want to sign up for dance lessons and take part in the local Carnaval or join a local cycling club and tackle some of the most scenic areas - these cultural adventures will introduce you to the people and afford you a truly unique travel experience. This guide focuses on CuraAao primarily and is based on material found in our larger book, Aruba, Bonaire & Curacao Pocket Adventures.
Author: Ann Marie Bissessar
Publisher: Springer
ISBN: 3030029948
Category : Social Science
Languages : en
Pages : 365
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Book Description
This edited volume focuses on the attempts of various Caribbean countries to diversify their economies and societies. It is done in the context of political and economic difficulties that these countries have faced since the 2007-2008 economic crash and how successful they have been in moving their economies in a different direction. The contributors use very distinct levels of analysis in order to provide a nuanced view of diversification efforts in Trinidad and Tobago, Jamaica, Cuba, the French Antilles, and the Dutch Antilles. The book will appeal to academic researchers, practitioners, policy makers, and everyone who is interested in the politics and development of the Caribbean region.
