ORANJESTAD - Aruba recently borrowed money on the international market, paying a significantly higher interest rate compared to if it had received assistance from the Netherlands, according to Aruban media reports. The government managed to secure a loan at an interest rate of 6.3%, which is considered high. In contrast, the lowest interest rate Aruba pays for assistance from the Netherlands is slightly above 3%. Aruba took out a loan of $134.5 million to pay off maturing debts.
According to the government, the Aruban parliament has authorized Finance Minister Maduro in the 2024 budget to seek the necessary funds to meet the financial needs of the Aruban government, which are estimated at 567.7 million guilders for 2024. This involves debts maturing in both the local and international markets.