Kingdom of the Netherlands: Aruba: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Kingdom of the Netherlands -Aruba

International Monetary Fund

No 2008/078, IMF Staff Country Reports from International Monetary Fund

Abstract: Aruba is one of the most developed islands in the Caribbean. Still, it is vulnerable to external shocks owing to its heavy dependence on tourism and a steady increase in public debt. Policies to support further fiscal consolidation and boost Aruba’s growth potential are needed. Maintaining macroeconomic stability will require fiscal adjustment and an appropriately tight monetary policy. Bolstering the growth potential will require creating the right conditions for private investment and diversification. The financial system is generally sound, but warrants continued supervisory vigilance.

Keywords: ISCR; CR; economy; GDP; real GDP; inflation expectation; ceiling; Aruban economy; island economy; exchange rate; Aruba well; U.S. dollar; monetary policy; statistical base; Imports; Current account; Commercial banks; Caribbean (search for similar items in EconPapers)
Pages: 41
Date: 2008-02-22
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