Kingdom of the Netherlands - Netherlands Antilles: Preliminary Conclusions of the IMF Mission
The Netherlands Antilles is at a crossroad. Curaçao and St. Maarten will adopt status aparte, while Bonaire, St. Eustatius and Saba will be integrating more closely with the Netherlands. Greater self-determination provides an opportunity to address social and economic problems in a more island specific context. It comes with the responsibility to give the future countries a clear direction, and implement a set of coherent policies that deliver higher growth on a sustained basis, which is key to reducing unemployment and alleviating poverty. A stable macroeconomic framework is essential, and structural reforms are also needed to better exploit the potential for higher growth and the opportunities offered by globalization. In the context of the ongoing Round-Table discussions on the future relations within the Kingdom, the Netherlands has offered support. Conditional on future fiscal discipline, the Netherlands has committed itself to find a solution of the debt problem, which the Antillean authorities see as the major obstacle to their economic development. The Netherlands Antilles' central and island governments on their side have pledged to adopt responsible fiscal policies, including binding budget rules, supported by improved transparency and strengthened fiscal management.
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