WILLEMSTAD – Curaçao’s public financial management remains structurally weak despite years of reform efforts, according to the Financial Management Report (FMR) for the fourth quarter of 2025. The report, submitted to the Kingdom partners, acknowledges that many of the intended improvements in budgeting, financial control and accountability have yet to translate into day-to-day practice.
While the government reports progress on paper, it concedes that key reforms are still not fully implemented or operational. The FMR notes that several measures remain “in development” or “in transition,” meaning that the underlying risks identified in earlier years continue to exist. As a result, the reliability of financial information and the government’s ability to steer effectively on spending remain limited.
The report confirms that Curaçao’s financial management framework is still vulnerable to delays, incomplete data and fragmented execution across ministries. Budget monitoring continues to rely heavily on information from third parties, which is not always delivered on time or in full. This restricts the Ministry of Finance’s ability to provide accurate and up-to-date insight into the country’s financial position.
Despite repeated commitments to strengthen discipline and transparency, the report makes clear that improvements have not yet reached the level required for sustainable financial governance. The government itself describes the reforms as “not yet fully embedded” in the organization, indicating that progress remains fragile and reversible.
The findings echo longstanding concerns expressed by oversight bodies, including the College financieel toezicht and the Algemene Rekenkamer Curaçao, which have repeatedly warned that structural weaknesses in financial management undermine policy execution and parliamentary oversight.