~CBCS and IEDOM to formalize agreement for data exchange~
WILLEMSTAD/PHILIPSBURG:--- Accurate and timely data is crucial for the Centrale Bank van Curaçao en Sint Maarten (CBCS) to make informed economic projections and effective monetary policy decisions. This data is gathered from various stakeholders across both Curaçao and Sint Maarten. Recognizing the importance of collaboration, staff from the CBCS’s Monetary Policy, Economics & Statistics (MPE&S) Division recently conducted a series of stakeholder sessions in Sint Maarten and met with their French Caribbean counterparts at Institut d'Émission des Départements d'Outre-Mer (IEDOM). During these sessions, CBCS representatives demonstrated how data is collected, analyzed, and used to support economic forecasts and policymaking for Sint Maarten’s economy.
In the meeting with IEDOM, macroeconomic information and indicators on both sides of the island were exchanged, and collaboration between the CBCS and IEDOM was discussed. The collaboration will enhance the CBCS’ understanding of the complex interplay between the economies of Sint Maarten and Saint Martin, thereby providing more accurate economic analyses and forecasts. This mutual collaboration will also provide the foundation for future economic research on topics particularly relevant to the unique shared and open border between Sint Maarten and Saint Martin. A memorandum of understanding between the two parties will be signed in the coming months.
The MPE&S Division is responsible for compiling key economic data, including monetary and balance of payments statistics, which serve as the foundation for economic estimates and projections. Based on this data, the division publishes the CBCS’s flagship quarterly report, the Economic Bulletin, offering in-depth economic analyses and a medium-term outlook for both Curaçao and Sint Maarten.
The division intends to host stakeholder sessions on a structural basis as it continues to refine and enhance its analytical and data collection capabilities. In addition, a symposium will be held later this year in Sint Maarten focusing specifically on the importance of data and statistics as well as highlighting ongoing economic research.
Willemstad, February 19, 2025
CENTRALE BANK VAN CURACAO EN SINT MAARTEN
