02451cas a2200241 a 4500 AALejournalIMF020846 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513539362 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Western Hemisphere Dept. Kingdom of the Netherlands-Curacao and Sint Maarten : 2019 Article IV Consultation-Press Release and Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands-Curacao and Sint Maarten. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (85 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This 2019 Article IV Consultation focuses on Curacao and Sint Maarten's near and medium-term challenges and policy priorities and was prepared before coronavirus disease 2019 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. The fiscal position in Curacao improved in the past two years, in part due to implemented fiscal measures. Both Curacao and Sint Maarten would benefit from introducing a Fiscal Responsibility Framework. It could incorporate a central government debt ratio as a long-term anchor and operational rules calibrated to meet it. The report suggests that risks in the financial sector need to be addressed as a matter of priority. The authorities should develop a strategy for addressing financial sector vulnerabilities with the objective of preserving financial stability while minimizing fiscal costs. Significant strengthening of supervision and a complete overhaul of the bank resolution framework are also urgently needed. An across-the board improvement in the governance framework should be a key priority in both countries. Vulnerabilities in the financial system point to the need to strengthen governance in the financial sector. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2020/094 Full text available on IMF http://elibrary.imf.org/view/journals/002/2020/094/002.2020.issue-094-en.xml IMF e-Library