WILLEMSTAD – The Financial Supervision Board (Cft) is calling on the Curaçao government to accelerate efforts to improve financial management and provide overdue reports on the country's public finances.
In its latest assessment, the supervisory board acknowledged that the government is working on reforms aimed at strengthening financial administration and improving budget oversight. The initiatives are designed to modernize public financial management and increase accountability across government institutions.
However, the Cft says it is still too early to determine whether the reforms are producing the desired results. The board indicated that measurable improvements will be necessary before a final assessment can be made.
The watchdog also expressed concern about missing financial information from parts of the collective public sector. According to the Cft, several key financial reports have yet to be submitted, limiting transparency and making it more difficult to evaluate the overall condition of government finances.
Timely reporting is considered crucial for effective oversight, allowing authorities to monitor spending, assess fiscal risks, and ensure that public funds are being managed responsibly.
The comments come as Curaçao continues efforts to strengthen its public finances following years of reforms aimed at achieving greater financial stability. The Cft emphasized that reliable financial reporting and sound financial management remain essential for maintaining confidence in the island's fiscal position and ensuring sustainable public finances in the years ahead.