Kingdom of the Netherlands - Aruba: 2017 Article IV Consultation-Press Release and Staff Report

June 15, 2017

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Format: Chicago

Kingdom of the Netherlands - Aruba: 2017 Article IV Consultation-Press Release and Staff Report, (USA: International Monetary Fund, 2017) accessed September 20, 2024

Summary

This 2017 Article IV Consultation highlights Aruba’s recession, which began around mid-2015. Real GDP contracted by 0.5 and 0.2 percent in 2015 and 2016, respectively. Weakness in activity was broad based in 2016. Domestic demand contracted by 3.0 percent. Exports grew only 0.3 percent owing to weak tourism and shrinking nontourism exports. Imports contracted by 3.5 percent, reflecting weak demand on the back of fiscal consolidation and weak tourism growth. Monetary policy was unchanged during 2015–16. The banking system remains resilient. Banks maintain elevated capital buffers, have relatively low nonperforming loans, and are profitable.

Subject: Economic sectors, External debt, Fiscal consolidation, Fiscal policy, Fiscal stance, Public debt, Tourism

Keywords: Article IV consultation discussion, Caribbean, Central bank financing, CR, Discussion, Fiscal consolidation, Fiscal stance, Global, IMF staff calculation, ISCR, Monetary policy stance, Money market rate, Per capita income, Tourism

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/155
Stock No:

1ABWEA2017001
ISBN:

9781484304389
ISSN:

1934-7685

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