Given their small size and high degree of openness
Policy actions needed to reduce vulnerability to external shocks in Curaçao and Sint Maarten
WILLEMSTAD/PHILIPSBURG – “As small and open economies, Curaçao and Sint Maarten are vulnerable to external shocks. The effects of external shocks on the monetary union are reflected in, among other things, fluctuations in our balance of payments”, stated president of the Centrale Bank van Curaçao en Sint Maarten (CBCS), Richard Doornbosch, in the CBCS’s September 2023 Economic Bulletin. This edition of the Economic Bulletin highlights the monetary union’s vulnerability to shocks with a textbox on the effect of NAf.- Euro exchange rate fluctuations on trade flows. In addition, the Economic Bulletin includes a feature article with a brief comparative analysis of key social and macroeconomic indicators of Dutch Sint Maarten and French Saint Martin.