WILLEMSTAD – The government of Curaçao is unable to adequately explain how billions of guilders in public funds were spent in 2023, according to a critical report by the General Audit Chamber of Curaçao (Algemene Rekenkamer Curaçao) on the country’s annual accounts.
The Audit Chamber found more than two billion guilders in errors in the financial statements, in addition to over two billion guilders in uncertainties. These figures far exceed the legal threshold, which allows a maximum of 17.6 million guilders in combined errors and uncertainties in a single fiscal year.
According to the Audit Chamber, the issues go well beyond minor accounting mistakes. The report points to expenditures that were not made in accordance with legal procedures, were improperly recorded, or lacked the required approval from Parliament. In many cases, the government was unable to demonstrate what the funds were actually spent on.
As a result, the Audit Chamber says it cannot approve the 2023 annual accounts, leaving Parliament without a reliable picture of the country’s financial position.
Major budget overruns
The report also notes that the government significantly exceeded its approved budget in 2023. In addition, key administrative documents are missing, including contracts and complete inventories of government-owned assets. As a consequence, the state does not have a clear and accurate overview of its own buildings and other properties.
While the government has announced improvement plans aimed at strengthening financial management, the Audit Chamber concludes that implementation is progressing far too slowly. The problems identified have persisted for several years and, according to the report, have still not been structurally resolved.
The Audit Chamber is urging Parliament to hold the government firmly accountable and to demand swift and demonstrable improvements in financial governance. Without decisive action, the report warns, there is a continued risk that future annual accounts will also fail to receive a clean audit opinion.