WILLEMSTAD – On Tuesday, February 25, 2026, the Council of Ministers of Curaçao held its first regular meeting of the year with the College financieel toezicht Curaçao en Sint Maarten (Cft). During the session, Cft chairman Hans Hoogervorst expressed satisfaction with Curaçao’s financial position and spoke positively about the island’s strong economic growth.
According to the Cft, the economic expansion is clearly visible in the tourism sector and its positive spillover effects on the broader economy. At the same time, the board cautioned that economic growth can also bring negative side effects. In particular, the Cft pointed to migration-related developments that could have demographic impacts on local communities, stressing the importance of timely analysis and policy responses.
The Cft also emphasized the need to continue working toward sustained budget surpluses. Maintaining financial buffers, the board noted, is essential to ensure the country can respond effectively to future challenges as they arise.
During its presentation, the Cft highlighted that healthcare spending remains the single largest burden on Curaçao’s national budget. The board underlined the importance of a comprehensive financial management plan based on clear priorities, not only for healthcare but across all policy areas and ministries.
The Cft identified the Tax Department as its main area of concern. This relates not only to integrity issues but also to persistent financial backlogs, which, according to the board, are not being resolved at a sufficiently rapid pace. Addressing these issues is seen as crucial to creating fiscal space, for example to allow for possible tax reductions in the future.
Deputy Prime Minister and Minister of Finance Charles Cooper stated that following a meeting between the Ministry of Finance and the Cft the previous day, his team met later that afternoon with the management of the Tax Department and the Receiver’s Office to take concrete follow-up actions.
In closing, Hoogervorst announced that the Cft will soon present an evaluation framework aimed at contributing to improved financial management across the Caribbean countries within the Kingdom.
Hoogervorst was accompanied by Paul Hilbers, member nominated by the Netherlands; Elizabeth de Cuba, member nominated by Curaçao; Julisa Frans, member nominated by Sint Maarten; advisors Jeroen Tellings and Jasmijn Kossick; and secretary Han van Midden.