WILLEMSTAD – Curaçao’s economic reform agenda under the Landspakket continues to struggle with delays, partial implementation and limited measurable impact, according to the Financial Management Report (FMR) for the fourth quarter of 2025. While the government formally reports progress on multiple fronts, the report makes clear that several core economic reforms have yet to move beyond the planning or early execution phase.
The Landspakket, agreed with the Netherlands as part of financial support arrangements, was designed to strengthen Curaçao’s economic resilience through reforms in public finance, tax administration, labor markets and the business climate. However, the latest reporting shows that many of these measures remain structurally vulnerable due to capacity constraints, fragmented governance and slow decision-making.
One of the recurring problems highlighted in the report is the lack of implementation power. Economic reforms depend heavily on ministries that are already under strain, while specialized expertise is often sourced externally. This creates delays and makes continuity uncertain once external support diminishes. As a result, reforms that are critical for improving competitiveness and investment conditions progress unevenly or stall altogether.
The report also signals weaknesses in coordination between the National Reform Organization (NHC), line ministries and other public institutions involved in economic reform. Responsibilities overlap, accountability is diffuse and timelines are frequently adjusted. This governance fragmentation undermines the coherence of the Landspakket as an integrated economic reform program.
In several cases, reforms aimed at improving the business environment and tax efficiency are described as “in preparation” or “under development,” without clear deadlines or performance indicators. This makes it difficult to assess whether these measures will deliver the intended economic benefits, such as increased investment, higher productivity or broader diversification of the economy.
The FMR further notes that economic reforms are often affected by shifting political priorities. Projects are postponed or reprioritized without a clear assessment of economic impact, weakening the credibility of the reform agenda. This creates uncertainty for businesses and investors, who depend on predictable policy execution.
Oversight institutions, including the Committee for Financial Supervision (CFT), have repeatedly warned that delayed or incomplete Landspakket reforms pose a risk to Curaçao’s long-term economic stability. The FMR confirms that these concerns remain valid, as several structural reforms have yet to produce tangible results.
While the government reiterates its commitment to the Landspakket, the report underscores that economic reform is not merely a matter of intent but of execution. Without clearer prioritization, stronger coordination and sustained implementation capacity, the Landspakket risks remaining a framework of ambitions rather than a driver of structural economic change.
The findings suggest that unless these systemic weaknesses are addressed, Curaçao’s economic reforms will continue to lag behind expectations, limiting the country’s ability to reduce vulnerability, strengthen competitiveness and achieve sustainable growth.