WILLEMSTAD - The government of Curaçao agrees with the latest report from the International Monetary Fund (IMF) on the financial situation of Curaçao and Sint Maarten. This is reported by Minister of Finance Javier Silvania.
In the report, the policy of the Curaçao government is broadly supported. According to the report, Curaçao is recovering from major setbacks such as the corona pandemic and the closure of the refinery. Financial support measures from the Netherlands were necessary at the time to limit the economic consequences.
Since the second half of 2021, tourism has experienced a strong revival. This contributed to an economic recovery of 4.2 percent. The hospitality sector is also doing well and is expected to grow by six percent this year.
However, the recovery from the pandemic is being influenced by rising food, fuel and import prices, according to the IMF. In addition, the consequences of the refinery closure mean that growth is not yet broadly based. The report states that a full recovery to pre-pandemic levels may not be achieved until 2025 or 2026.