WILLEMSTAD – Household debt levels in Curaçao have remained largely unchanged since 2020, but the CBCS warns that stability may mask deeper issues around access to credit and financial opportunity.
In 2024, 38 percent of respondents reported having at least one loan, virtually identical to four years earlier. Personal loans remain the most common form of borrowing, followed by mortgages and car loans. Credit card debt and student loans are far less prevalent.
While this could reflect cautious borrowing behavior, the report suggests another explanation: restricted access to credit. Many respondents without loans cited lack of eligibility due to low or unstable income, absence of a fixed job, or age-related factors.
Limited access to formal credit can prevent households from investing in education, housing, or entrepreneurship, reinforcing inequality and dependence on informal financial arrangements. The findings highlight the importance of inclusive lending policies and improved financial literacy to ensure that stability does not come at the expense of opportunity.
