WILLEMSTAD - Curaçao wants to refinance part of the nearly 3.5 billion guilders debt to the Netherlands. Minister of Finance Javier Silvania has therefore sent a letter to State Secretary van Huffelen.
Refinancing can provide the Country of Curaçao with interest savings of up to approximately twenty million guilders per year. Currently, sixty million in interest costs are paid by Curaçao to the Netherlands every year.
In order to obtain money in a structural way to implement the reforms discussed in the National Package, it is important that Curaçao and the Netherlands come to concrete agreements regarding the refinancing of the debts. These reforms are necessary to boost the current economy.
Taking into account that these are loans with a term between ten and thirty years, a refinancing of the loans can result in significant savings in interest charges.
The savings could then be used to implement the necessary reforms without incurring new debts.