WILLEMSTAD – The International Monetary Fund (IMF) has called on the Central Bank of Curaçao and Sint Maarten (CBCS) to provide more clarity on its foreign exchange (FX) policies, particularly the system of licensing requirements for cross-border transactions.
The report notes that while the central bank clearly outlines its objectives—maintaining external stability and safeguarding foreign reserves—there is limited public explanation of how these policies are implemented in practice.
Businesses and investors are required to obtain licenses for certain foreign exchange transactions, but the rationale behind these thresholds and controls is not always transparent.
The IMF recommends that the CBCS publish plain-language explanations of its FX framework, including how decisions are made and what impact they are intended to have on the economy.
Greater transparency, the IMF argues, would help improve confidence among investors and reduce uncertainty in the financial system.
The issue is particularly relevant for Curaçao’s open economy, where cross-border flows play a critical role in trade, investment, and financial activity. Clear and predictable rules are seen as essential for maintaining competitiveness and attracting foreign capital.