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Structural reforms needed to sustain growth
CBCS: Countries’ public debt sustainable
WILLEMSTAD/PHILIPSBURG – Following a peak in the public debt-to-GDP ratio in 2020 caused primarily by the COVID-19 pandemic, a decline over the medium term is projected, reaching 64.7% for Curaçao and 35.1% for Sint Maarten in 2027, according to the March 2024 Economic Bulletin by the Centrale Bank van Curaçao en Sint Maarten (CBCS).
“The question arises whether the projected development in the public debt-to-GDP ratio is sustainable. A country’s public debt is considered sustainable if the government can meet all its current and future payment obligations without being forced to undertake major budgetary adjustments or restructure debt owed to creditors and investors,” CBCS president Richard Doornbosch pointed out.