WILLEMSTAD – Efforts to strengthen Curaçao’s economic resilience are progressing, but the impact of reforms will only become visible over the long term, according to a new evaluation report.
The report explains that many of the reforms implemented under the Kingdom cooperation framework are not designed to produce immediate economic growth. Instead, they focus on improving underlying systems, such as public financial management, tax administration, and government oversight.
These types of reforms are considered “foundational,” meaning they create the conditions necessary for sustainable economic development rather than delivering quick results.
Some progress has already been observed, including improvements in financial reporting, internal controls, and administrative processes. However, the report cautions that these changes take time to translate into broader economic benefits.
Curaçao remains vulnerable to external shocks, as demonstrated during the COVID-19 crisis, when the island required financial support from the Netherlands. The evaluation stresses that building resilience is a gradual process that depends on consistent policy implementation and institutional strengthening.