Kingdom of the Netherlands—Aruba: Staff Report for the 2001 Article IV Consultation Discussions

Author: International Monetary Fund

The government's plans to reform the tax system and administration are well founded. The Central Bank of Aruba is to be commended for its prudent management of monetary policy, as demonstrated by the continued credibility and strength of the peg to the U.S. dollar, buttressed by a robust foreign reserve position. There has been significant progress in expanding and strengthening the supervisory and regulatory framework of financial activities. Renewed initiatives on structural reforms will improve efficiency in the use of resources and attract strategic investment.

Volume/Issue: Volume 2001 Issue 159

Publication date: September 2001

ISBN: 9781451800067

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Business and Economics , Social Science , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , staffs recommendation , company pension funds , Aruban economy , offshore sector , exchange rate peg , IMF staff estimate , CBA confidence margin , current account , IMF's assessment , Commercial banks , Monetary systems , Imports , Public sector , Caribbean , South America

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Summary

The government’s plans to reform the tax system and administration are well founded. The Central Bank of Aruba is to be commended for its prudent management of monetary policy, as demonstrated by the continued credibility and strength of the peg to the U.S. dollar, buttressed by a robust foreign reserve position. There has been significant progress in expanding and strengthening the supervisory and regulatory framework of financial activities. Renewed initiatives on structural reforms will improve efficiency in the use of resources and attract strategic investment.