WILLEMSTAD – As far as the Committee for Financial Supervision (Cft) is concerned, the budgetary standards in the Financial Supervision Act must be dropped for Curaçao. The same applies to Aruba, which has its own legislation for this.
In addition to the inevitable budget deficits, liquidity and foreign currency shortages will also arise.
Moreover, the debts of the countries will increase. Less money is coming in and more money is being spent now that measures are needed because of the corona crisis.
The Cft cannot yet calculate which new standards must apply, because there is not enough information at the moment.