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MARIGOT:--- President Daniel Gibbs announced since taking office in April 2017 that the wreck of the boat El Maud in Galisbay would soon disappear. Scheduled well before Hurricane IRMA, this public contract was awarded last July to the Dutch company Koole BV for € 395,000. Work began in mid-October and is now complete.
The ship El Maud ran aground 100 meters from the shore, about 4.5 meters deep, during the passage of Hurricane Lenny, in November 1999 Read more

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Curacao's Economy Shrinks In The First Quarter Of 2017.

WILLEMSTAD, Curacao:--- The Central Bank of Curaçao and Sint Maarten reports that the economy of Curacao during the first quarter of 2017 with an estimated 0.9% has shrunk compared to the first quarter of 2016. The economic downturn in the first quarter of 2017 was accompanied by higher inflationary pressures, mainly as due to an increase in gasoline and electricity prices. Inflation increased 0.0% in the first quarter of 2016 to 1.7% in the first quarter of 2017.

The analysis by sector in the Bank's first quarterly report of 2017 shows that the shrinkage of real Curaçao's GDP was mainly due to a decline in activities the private sector Read more

ORANJESTAD, Aruba:--- The Board of financial supervision Aruba (CAft) considers the compliance with the budgetary norms for 2017 and later years crucial in decreasing the government debt of Aruba and making the public finance sustainable. This is what Raymond Gradus indicated during his first visit to Aruba as CAft chairman. For 2017 a strict supervision is essential to comply with the projected measures to reduce the financing deficit. Considering the results of the first half year, CAft is concerned about the disappointing income and increasing expenses Read more

WILLEMSTAD, Curacao:--- During its visit to Curaçao, the Board of financial supervision Curaçao and Sint Maarten (Cft) indicated that the implementation of the 2017 budget was under great pressure. Revenue enhancing and tax mitigation measures are necessary to prevent a budget deficit in 2017. Challenges are related to lagging tax revenues en social funds premiums and the control of expenses. In addition, the stimulation of the economy is an important challenge.

Probable positive closing of 2016 budget
The year 2016 appears to have closed with a positive result on the ordinary service, on account of incidental windfalls Read more