WILLEMSTAD – The Centrale Bank van Curaçao en Sint Maarten (CBCS) is urging Curaçao to continue modernizing its economy and financial system as technological change, climate risks and geopolitical uncertainty reshape the global economic landscape.
In its 2025 Annual Report, the central bank outlines a new strategic vision that emphasizes innovation, stronger financial supervision, digital transformation and sustainable economic development as key priorities for the years ahead.
The report notes that while Curaçao's economy remains resilient, long-term competitiveness will increasingly depend on how successfully the country adapts to global changes rather than relying solely on tourism.
New strategy through 2028
The CBCS has adopted a Strategic Plan covering 2026 through 2028 under the theme "Driven by innovation, focused on trust."
According to the report, the strategy was developed following consultations with government stakeholders, financial institutions and the central bank's own employees.
The institution says rapid technological advances, climate change, digital finance and changing international regulations require a more forward-looking approach from central banks.
Its new strategy focuses on six major objectives, including promoting transparent monetary policy, encouraging sustainable economic development, strengthening financial supervision, modernizing payment systems, expanding the use of digital technologies and improving organizational transparency.
Financial sector undergoing transformation
The CBCS reports that approximately 400 financial institutions now fall under its supervision.
During 2025, the bank completed the implementation of what it calls its "New Style of Supervision," a more risk-based system designed to identify vulnerabilities earlier and strengthen enforcement.
The institution says it has also intensified supervision related to anti-money laundering, terrorist financing and virtual assets while increasing oversight of emerging technologies, including digital payment systems and cryptocurrencies.
Deposit protection expanded
Among the major milestones highlighted in the report is the implementation of Curaçao's Deposit Guarantee Scheme.
The system, introduced on July 1, 2025, provides additional protection for bank depositors and is intended to strengthen confidence in the local banking system.
A similar scheme is expected to be introduced in Sint Maarten during 2026.
Modern payment systems
The report also highlights continued modernization of Curaçao's payment infrastructure.
Besides successfully introducing the Caribbean guilder in March 2025, the CBCS continued upgrading instant payment systems, electronic banking infrastructure and international payment standards through migration toward ISO 20022.
According to the bank, these improvements are designed to make financial transactions faster, safer and more efficient while improving financial inclusion for businesses and consumers.
Climate and cybersecurity
The CBCS also identifies climate change and cybersecurity as increasingly important economic risks.
During 2025, the central bank strengthened its internal cybersecurity framework, expanded staff training and enhanced vendor risk management.
Climate-related risks are now being incorporated into financial supervision and policy development as part of the institution's long-term strategy.
According to the report, maintaining financial stability in coming years will depend not only on economic growth but also on the country's ability to respond effectively to rapidly evolving technological and environmental challenges.