WILLEMSTAD - According to Prime Minister Eugene Rhuggenaath, even if Curaçao succeeds in borrowing on the local market to avoid the conditions set by the Netherlands for financial support, this loan will be offered at a much higher interest rate than that of the Netherlands.
“With a loan from the Netherlands, the interest is 0 percent. There is no better deal than that.” Recently, the office of the Prime Minister posted a video on social media on which Premier Rhuggenaath gave an update on the talks with the Netherlands.
It is true, the Prime Minister agrees, that Curaçao urgently needs financial assistance. “And the offer of the Netherlands is what is now on the table, with the associated known conditions. And just as we look at our rights, we must also look at our duties.
Of course we also look at the possibilities of a loan on the international or local market, but the fact is that in such a case we have to take into account enormous interest rates because the risks associated with our country are simply high. And at the end of the day, we must be able to repay the loan amount plus interest. If we are unable to do so, the consequences for the country will be serious.”
And: “As a responsible government we have to think about long-term financial solutions. Not just for the short term.”
According to Rhuggenaath, the talks with the Netherlands are "intensive" and "important progress is being made to come closer together". “We must continue to keep our goal in mind: to continue to responsibly fulfill our duty, which is to support the community, businesses, workers, and the most vulnerable.
This while we modernize our economy and breathe new life into it and create sustainable jobs.”