WILLEMSTAD – Curaçao’s government still does not have a complete overview of the financial risks within the collective public sector, according to the Financial Management Report (FMR) for the fourth quarter of 2025. The report confirms that key entities remain outside the consolidated financial picture, limiting insight into long-term liabilities and fiscal exposure.
Charles Cooper, acting Minister of Finance
One of the most notable omissions is the Social Insurance Bank (SVB), whose financial position is not fully integrated into the government’s consolidated risk assessment. As a result, potential pressures related to healthcare costs, social security obligations and demographic developments are only partially visible in the overall financial framework.
The report acknowledges that this fragmented approach hampers effective financial steering. Without a comprehensive view of risks across all public and semi-public entities, the government cannot accurately assess the sustainability of public finances or anticipate future budgetary shocks.
This gap is particularly concerning given Curaçao’s aging population and rising healthcare expenditures, which are expected to place increasing pressure on public resources. The absence of a full risk profile means that potential deficits or funding shortfalls may only become apparent once they have already materialized.
The report notes that efforts to improve consolidation are ongoing, but progress has been slow. Until all major entities are structurally included in financial reporting and risk analysis, Curaçao’s fiscal position will remain vulnerable to unforeseen developments.