Kingdom of the Netherlands : Curaçao and Saint Maarten: 2011 Article IV Consultation: Staff Report; Informational Annex; and Public Information Notice on the Executive Board Discussion

Author/Editor:

International Monetary Fund

Publication Date:

December 8, 2011

Electronic Access:

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Summary:

The two newly autonomous countries within the Kingdom of the Netherlands face substantial challenges. Growth has been low, and unemployment high. The current account deficit has widened to worrisome levels, increasing the vulnerability of the peg to the U.S. dollar and stimulating calls for dollarizing or dissolving the currency union. A substantial adjustment is needed to bring the underlying current account deficit to historically sustainable levels over the medium term. This could be facilitated by measures to restrain credit growth, supported by fiscal consolidation.

Series:

Country Report No. 11/342

Subject:

English

Publication Date:

December 8, 2011

ISBN/ISSN:

9781463928599/1934-7685

Stock No:

1ANTEA2011001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

57

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