WILLEMSTAD – The government of Curaçao is ramping up the pace of key reforms in order to qualify for the refinancing of major loans from the Netherlands, which are set to expire in mid-October. This urgency is outlined in the country’s first combined implementation agenda for the Landspakket, covering the period from April through September 2025.
The pressure on the government is mounting. In 2020 and 2021, the Netherlands provided Curaçao with a total of 914 million guilders in the form of interest-free liquidity loans. The largest of these, a 760 million guilder loan, is due on October 15, 2025. In order for Curaçao to secure refinancing, the Dutch government has made clear that progress on reform is a prerequisite.
Financial Management Reform
Among the commitments laid out in the new implementation agenda is the requirement for Curaçao to submit a draft national ordinance on public financial management by September 30, 2025. This legislation is expected to strengthen the country’s financial governance, ensuring improved budget control, timely annual accounts, and independent financial oversight.
In addition, by the end of August, the Curaçao government must inform the Netherlands whether it agrees to adopt a new financial supervision model proposed by the Dutch government—another key condition for continued access to financial support.
Health and Public Sector Efficiency
The agenda also addresses the need to curb rising healthcare costs, improve the efficiency of state-owned enterprises, and enhance tax collection. The Social Insurance Bank (SVB) has been tasked with implementing concrete cost-control measures.
Meanwhile, all government-owned companies are required to submit their strategic visions for the future by August, signaling a shift toward more sustainable operations.
Digitalization of Tax Services
The Tax Department is expected to continue modernizing its systems, including the rollout of new platforms for the collection of turnover tax and profit tax—efforts aimed at improving compliance and increasing government revenue.
With only a few months left before the loan deadline, Curaçao’s ability to meet these reform targets will be closely watched—not just in Willemstad, but also in The Hague.
