Kingdom of the Netherlands-Aruba: 2010 Article IV Consultation Discussions-Staff Report; Informational Annex; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Kingdom of the Netherlands-Aruba
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Summary:
Aruba has an open economy with a history of stability-oriented macroeconomic policies. Adverse external shocks have led to a decline in tourism and disruption of oil refinery operations. Serious fiscal challenges need to be addressed and a fiscal adjustment program is needed to safeguard the sustainability of the public finances. Expenditure cuts and the central bank’s switch from a credit ceiling to an unremunerated reserves requirement as key policy tool is commended. The new monetary policy framework will likely increase the challenges to prudential regulation and supervision.
Series:
Country Report No. 2010/334
Subject:
Banking Commercial banks Economic sectors External debt Financial institutions Loans Pensions Public debt Tourism
Frequency:
Monthly
English
Publication Date:
October 29, 2010
ISBN/ISSN:
9781455208302/1934-7685
Stock No:
1ABWEA2010001
Pages:
54
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