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The COVID-19 pandemic and related containment measures have taken a heavy economic toll on the monetary union of Curaçao and Sint Maarten in 2020. According to the latest estimates of the CBCS, real GDP contracted by an unprecedented 20.2% in Curaçao and 26.8% in Sint Maarten. Furthermore, inflation rose across the monetary union thereby eroding purchasing power. Average consumer prices increased by an estimated 2.7% in Curaçao and 1.2% in Sint Maarten.