Kingdom of the Netherlands—Aruba: 2023 Article IV Consultation Discussions-Press Release; and Staff Report

Author: International Monetary Fund. Western Hemisphere Dept.

Volume/Issue: Volume 2023 Issue 284

Publication date: July 2023

ISBN: 9798400246449

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Topics covered in this book

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Labor , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , Industries - Hospitality Travel and Tourism , CPI data , CPI survey , quarterly balance of payments , Aruban economy , price sample , IMF staff calculation , External sector statistics , Tourism , Global , Caribbean

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Summary

The Aruban economy recovered to the pre-pandemic level of real GDP by 2022, supported by a robust rebound in tourism. The fiscal position has been improving but the debt-to-GDP ratio remains above the pre-pandemic level. The banking sector is well capitalized, liquid, and profitable. Restoring macroeconomic balance and bolstering medium-term growth are the principal policy tasks facing the authorities.