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

October 29, 2010

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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, (USA: International Monetary Fund, 2010) accessed September 18, 2024

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.

Subject: Banking, Commercial banks, Economic sectors, External debt, Financial institutions, Loans, Pensions, Public debt, Tourism

Keywords: Aruba, Caribbean, Commercial banks, CR, Discussion, Global, IMF staff representative, ISCR, Letters to Aruba's commercial banks, Loans, Market share, Netherlands, Policy stance, Staff appraisal, Tourism

Publication Details

Pages:

54
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/334
Stock No:

1ABWEA2010001
ISBN:

9781455208302
ISSN:

1934-7685

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