WILLEMSTAD – The Dutch cabinet has acknowledged that financial supervision over Curaçao and Sint Maarten has produced mixed results, according to its official response to a policy review of Article 5 of the Kingdom Relations budget, covering the period 2016–2022.
The review, conducted by SEO Economic Research, assessed whether the financial supervision framework, including the Kingdom Act on Financial Supervision (Rft), debt restructuring, and lending arrangements, achieved its intended goals. While the cabinet concludes that the overall policy remains relevant, it admits that key objectives such as sustainable public finances, structural economic development, and improved financial management were only partially achieved.
According to the evaluation, the supervision framework succeeded in improving transparency, providing insight into public finances, stabilizing debt levels, and maintaining confidence among financial markets. However, progress in strengthening financial management systems within the countries lagged behind expectations, limiting the overall effectiveness of the policy.
The Dutch cabinet stated that responsibility for financial management ultimately lies with the countries themselves, though it acknowledged that the lack of structural reforms and institutional strengthening has constrained long-term results.