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Achtergrond meeting the Cft demands. Now that all the chickens have come home to roost, the question re- mains: what went wrong? Why do our policymakers seem un- responsive to the public pressu- re and warnings given to them? Is it due to forecasting errors? Or due to political manipula- On the other hand, is the Cft deliberately being cautious for fear of breaking the rules? T

and Sint Maarten. This all, at the expense of the social and economic situation. Little to no attention is being paid to the social-economic situation of the inhabitants of Curaçao wide structural reforms to sup- port potential growth and incre- ase exports’. The question becomes: What A closer look at their project- ions, however, indicates that even in the baseline

Maandag 17 juni 2019 termined to put us on the path plies a net outflow of foreign ex- of self-destruction. change to Holland, bringing its pressure to bear on an already went wrong? Why did policyma- large current account deficit of kers not heed the warning of the the balance of payments; (4) Central Bank? To answer this What was not foreseen then is question, I will reflect both as a

Antilliaans Dagblad Why does Holland believe that it has the ‘God-given right to interfere in our internal affairs’? Does Holland have an ulterior motive to erode our autonomy? On the surface, Holland’s political rhetoric and public disclosures seem to tive they be given a starting po- sition that would allow them to realize the hope and aspirations of their inhabitants. This asser- tion wa

Maandag 17 juni 2019 contradict its ultimate actions. forms in the healthcare, labor, and pension systems that are fundamental to our further de- velopment are now at risk. The question becomes: does this risk outweigh the overri- ding goals of the consensus agreement? Does the fact that Holland provided us with a debt relief endow them with the right to erode our autonomy? Or was the brea

Antilliaans Dagblad The weaponization of Cft Emsley Tromp, voormalig president-directeur van de Centrale Bank. governance. good promote While I am still a proponent of those programs, I believe that the unfettered implementation of those programs without par- liamentary oversight created a set of perverse incentives that render our policy makers po- werless vis-à-vis their Dutch counterparts. Besides, th

thus gradually transformed from a ‘necessary’ to a ‘suffi- cient’ condition. Policy disputes with Cft are being solved by yiel- ding to Dutch pressure. That may calm tension (with RMR), but at an intolerably high price: a stagnant economy, high unemployment, and increased poverty. Mentioned ‘Dutch pressure’ is being reinforced by the poli- cies pursued by the Dutch go- vernme
through. I hope to convince the readers that despite the dark clouds covering our
Causes and consequences
This note is written against the background of the turbulent times we are living
islands, a concerted effort by everyone will certainly put us back on the road to

The Rijkswet financieel toe- zicht (Rft) and its constituent in- strument, the CFT with their ri- gid imposition of the budget ru- les and their consequent measures, have created a state of constant polarization both among our policymakers, as well as between our policyma- kers and Dutch Government. The budgetary norms enshri- ned in the Rft, in fact constitute a set of perverse

Achtergrond prosperity for all of us. By dr. Emsley D. Tromp he economic crisis we have been facing during the last few years should not ha- ve come as a surpri- T se. It is, to a major extent, the re- sult of capricious policymaking, lack of oversight by parliament, and what was meant to be a tool to promote fiscal soundness turned out to be a weaponiza- tion of an economic tool. We hav

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