Published On: Wed, Aug 6th, 2014

Jardim talks with International Monetary Fund

Jose JardimWILLEMSTAD – The Minister of Finance, Dr. Jose Jardim was recently in Washington D.C. and New York for talks with the International Monetary Fund (IMF) and Standard & Poor’s.

The discussions, where mostly information was exchanged, proved to be of great value, given the importance of the reports of both agencies to the international financial and business world.

The IMF held earlier this year, compared to 2011, a much more positive outlook on the public finances of especially Curaçao and the reduced deficit on the current account of the balance of payments Curaçao and Sint Maarten, but points out that "urgent" measures are needed to improve the economy and employment.

Standard and Poor’s also has a positive rating about Curaçao earlier this year. S & P's rated Curaçao again with the A / A-2 'rating and a' stable 'outlook.

But the international credit rating added immediately that a downgrade could follow if the reforms prove to insufficient to get and to maintain the public finances in order and if the public debt increases again. This is a clear warning from the S & P’s.

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