WILLEMSTAD – Despite posting healthy budget surpluses, Curaçao’s financial administration remains deeply flawed, according to the latest report from the Committee Financial Supervision (Cft).
The watchdog says the island’s financial management system remains incomplete, poorly organized and insufficiently verifiable, raising concerns about transparency and accountability in public finances.
In its half-year report, the Cft said Curaçao’s budget documents still lack full completeness and order, while the government also continues to miss integral accountability reports verified for accuracy.
That gap creates uncertainty over whether Curaçao is fully complying with the Kingdom’s legal requirement for budget equilibrium.
The issue is especially important because Curaçao remains under Kingdom financial supervision.
To address the structural weaknesses, the Cft has begun applying a new financial management assessment framework designed to improve oversight.
The framework follows recommendations from the 2024 evaluation of the Kingdom Financial Supervision Act and is intended to force governments to improve the quality, completeness and auditability of their budgets.
For Curaçao, this new framework could have major implications.
Starting with the 2027 budget cycle, the Cft plans to formally apply stricter tests on how the island prepares budgets, monitors spending and reports results.
The watchdog says this is meant to improve financial discipline and prevent hidden weaknesses in public finances.
The report also reveals that Curaçao has decided to revise its long-running “Roadmap” aimed at obtaining an unqualified audit opinion on its annual accounts.
That roadmap has suffered delays due to lack of political priority, slow decision-making and shortages in financial personnel.
The government has promised to present a new plan in early 2026.
The findings highlight a major contradiction: Curaçao’s finances are improving on paper, but the system used to manage them still lacks the reliability needed for long-term financial confidence.