THE HAGUE - Curaçao is not yet forced to cut back to put its budget in order. The joint Council of Ministers of the European and Caribbean Netherlands has decided not to give the island a so-called budgetary instruction yet, although that was expected. The parties will continue to talk next month.
When Curaçao became an autonomous country in the Dutch Kingdom in 2010, the Netherlands and the island government made agreements about the management of the treasury. In exchange, the Netherlands canceled Curaçao's debts. But the island has not adhered to these agreements for years, has large budget deficits and does not comply with the recommendations given by the supervisor that has been appointed. There is a risk of a deficit of € 50 million for this year.
The Prime Minister of Curaçao traveled to The Hague this week to avert an instruction, and so succeeded.