Kingdom of the Netherlands—Aruba: Staff Report for the 1999 Article IV Consultation

July 1, 1999

Summary

This 1999 Article IV Consultation highlights that Aruba’s real GDP grew at an annual rate of some 3 percent in 1998, while inflation remained subdued at about 2 percent. Comparable rates of satisfactory growth and low inflation have characterized the island’s development since the mid-1990s, following a period of double-digit growth when an investment boom in the hotel sector brought about the transformation of Aruba into a tourism-based economy. The outlook for satisfactory growth and low inflation had been threatened, however, by an undue relaxation of fiscal policy in 1996 and continued laxity through mid-1998.

Subject: Arrears, Banking, Civil service, Commercial banks, Current spending, Expenditure, External debt, Financial institutions, Labor

Keywords: Arrears, Aruba, Aruba well, Aruba's performance, Aruban authorities, Caribbean, central bank of Aruba, Civil service, Commercial banks, CR, Current spending, Europe, foreign exchange, government, IMF staff estimate, ISCR, reform proposal, U.S. dollar

Pages:
37
Volume:
1999
DOI:
https://doi.org/10.5089/9781451800029.002
Issue:
047
Series:
Country Report No. 1999/047
Stock No:
1ABWEA0011999
ISBN:
9781451800029
ISSN:
1934-7685

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Notes

Included with the Staff Report is the text of Public Information Notice No. 99/44--IMF Concludes Article IV Consultation with Aruba.

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