Curaçao And Sint Maarten

Author : Brian Kwok Chung Yee,Ms. Bidisha Das
Publisher : International Monetary Fund
Page : 5 pages
File Size : 46,5 Mb
Release : 2023-06-16
Category : Business & Economics
ISBN : 9798400246333

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Curaçao and Sint Maarten by Brian Kwok Chung Yee,Ms. Bidisha Das Pdf

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 : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 85 pages
File Size : 41,6 Mb
Release : 2020-04-01
Category : Business & Economics
ISBN : 9781513539362

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Kingdom of the Netherlands-Curacao and Sint Maarten by International Monetary Fund. Western Hemisphere Dept. Pdf

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
Page : 68 pages
File Size : 44,8 Mb
Release : 2016-08-22
Category : Business & Economics
ISBN : 9781475527285

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Kingdom of the Netherlands—Curaçao and Sint Maarten by International Monetary Fund. Western Hemisphere Dept. Pdf

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.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 107 pages
File Size : 50,6 Mb
Release : 2023-07-28
Category : Business & Economics
ISBN : 9798400249273

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Kingdom of the Netherlands-Curaçao and Sint Maarten by International Monetary Fund. Western Hemisphere Dept. Pdf

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
Page : 61 pages
File Size : 53,6 Mb
Release : 2014-08-27
Category : Business & Economics
ISBN : 9781484336304

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Kingdom of the Netherlands—Curaçao and Sint Maarten by International Monetary Fund. European Dept. Pdf

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,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 79 pages
File Size : 44,9 Mb
Release : 2021-08-25
Category : Business & Economics
ISBN : 9781513594453

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Kingdom of the Netherlands—Curaçao and Sint Maarten: 2021 Article IV Consultation Discussions; Press Release and Staff Report by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

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 : Hans W. Hannau
Publisher : Unknown
Page : 112 pages
File Size : 48,5 Mb
Release : 1975
Category : Netherlands Antilles
ISBN : UTEXAS:059173005050204

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The Netherlands Antilles in Full Color by Hans W. Hannau Pdf

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 17 pages
File Size : 47,7 Mb
Release : 2021-08-25
Category : Business & Economics
ISBN : 9781513594460

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Kingdom of the Netherlands—Curaçao and Sint Maarten: Selected Issues by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

Selected Issues

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 94 pages
File Size : 52,6 Mb
Release : 2022-08-11
Category : Business & Economics
ISBN : 9798400214363

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Kingdom of the Netherlands-Curaçao and Sint Maarten by International Monetary Fund. Western Hemisphere Dept. Pdf

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.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 63 pages
File Size : 42,6 Mb
Release : 2019-01-25
Category : Business & Economics
ISBN : 9781484395929

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Kingdom of the Netherlands—Curaçao and Sint Maarten by International Monetary Fund. Western Hemisphere Dept. Pdf

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 : Menno P. Sypkens Smit
Publisher : Unknown
Page : 292 pages
File Size : 43,8 Mb
Release : 1995
Category : Saint Martin
ISBN : STANFORD:36105017616793

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Beyond the Tourist Trap by Menno P. Sypkens Smit Pdf

For abstract see: Caribbean abstracts, no. 7, 1995-1996 (1997); p. 114, no. 0625.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 57 pages
File Size : 51,7 Mb
Release : 2011-12-08
Category : Business & Economics
ISBN : 9781463928599

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Kingdom of the Netherlands by International Monetary Fund Pdf

The two newly autonomous countries within the Kingdom of the Netherlands face substantial challenges. Growth has been low, and unemployment high. The current account deficit has widened to worrisome levels, increasing the vulnerability of the peg to the U.S. dollar and stimulating calls for dollarizing or dissolving the currency union. A substantial adjustment is needed to bring the underlying current account deficit to historically sustainable levels over the medium term. This could be facilitated by measures to restrain credit growth, supported by fiscal consolidation.

Author : OECD
Publisher : OECD Publishing
Page : 103 pages
File Size : 45,9 Mb
Release : 2012-10-29
Category : Electronic
ISBN : 9789264181854

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Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: Sint Maarten 2012 Phase 1: Legal and Regulatory Framework by OECD Pdf

This report examines Sint Maarten's legal and regulatory framework for the exchange of tax information.

Author : World Health Organization
Publisher : World Health Organization
Page : 440 pages
File Size : 46,9 Mb
Release : 2021-02-01
Category : Medical
ISBN : 9789240019225

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Responding to the COVID-19 pandemic by World Health Organization Pdf

Author : OECD
Publisher : OECD Publishing
Page : 144 pages
File Size : 45,8 Mb
Release : 2015-08-03
Category : Electronic
ISBN : 9789264237377

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Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: Sint Maarten 2015 Phase 2: Implementation of the Standard in Practice by OECD Pdf

This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of Sint Maarten.