WILLEMSTAD - The reporting that the foreign exchange reserve on Curaçao has fallen by the lower limit of three months is incorrect. The statement was made by the president of the Financial Supervision Board (Cft), Raymond Gradus during the press conference on Wednesday.

Our reporter mistakenly accepted a projection from the IMF for a fixed fact and included that in the article.

What the chairman of the Cft did say during the press conference was the following (shortened):

“In this context, I would also like to reflect on a recently released IMF report on Curacao. () I share with them the concerns about Curaçao's foreign exchange reserve, which has deteriorated considerably in recent years. () The IMF's projections show that foreign exchange reserves will fall below 2 months of imports of goods and services, while 3 months will be used as a critical lower limit.”

The editors of Curaçao.nu and Curacao Chronicle regret the misrepresentation and apologize for that.