Netherlands Antilles: Recent Economic Developments

International Monetary Fund

No 1997/032, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in the Netherlands Antilles during 1990–96. The economic situation started deteriorating significantly since the early 1990s. Economic growth slackened, mainly reflecting weak investment and a sharp drop in tourist arrivals in 1995–96 owing to hurricane damage. The underlying external position deteriorated progressively, and reserves fell to an uncomfortably low level. The major factors behind the deterioration were occasional slippages in monetary policy and persistently large fiscal deficits that had their roots in a rapid growth of personnel costs.

Keywords: ISCR; CR; Island government; central bank; current account; balance of payments; private sector; tax collection; foreign exchange; tax revenue; development aid; sales tax; monetary policy; central government; Civil service; Pension spending; Pensions; Caribbean (search for similar items in EconPapers)
Pages: 108
Date: 1997-04-26
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