WILLEMSTAD - Prime Minister Gilmar Pisas participated in a digital meeting with representatives of Standard & Poor's. According to Pisas, the relationship between the Netherlands and Curaçao, the implementation of the National Package and the restart of the refinery were discussed.
Standard & Poor's is an international credit rating agency that monitors the economic situation of companies and governments. A rating is issued based on various criteria. Governments can also be given a rating. Reliability of the regime plays a role in this.
“While we expect Curaçao's economy to begin to recover from the coronavirus pandemic by the end of 2021, underlying structural weakness is likely to limit this growth,” the rating agency wrote in a report on Curaçao in February 2021. “We view the agreement of the Landspakket (Country Package) as a positive development, although the ongoing economic and fiscal battle is likely to continue to weigh on Curaçao's relationship with the Netherlands.”
The methods by which the rating is given, and the possible consequences thereof were also discussed during the meeting. According to Pisas, Standard & Poor's has gained a better understanding of the current economic situation in Curaçao.