WILLEMSTAD/PHILIPSBURG:---  Following robust growth in 2025, economic activity is expected to continue expanding in 2026. However, the recent escalation in geopolitical tensions, particularly the ongoing conflict in the Middle East and its potential spillovers to commodity and financial markets, pose increasing risks to the outlook. “While the monetary union has demonstrated resilience, the external environment has become more turbulent. This calls for continued vigilance and clear policy priorities,” said Richard Doornbosch, President of the Centrale Bank van Curaçao en Sint Maarten (CBCS), in the March 2026 Economic Bulletin.
Sustained growth with an improved external position
The economies of the monetary union continued to perform strongly in 2025, with real GDP growth reaching 3.9% in Curaçao and 3.4% in Sint Maarten. Growth was driven mainly by strong tourism activity and its spillovers to sectors such as transport, trade, and construction. “The 2025 growth estimates for both countries reflect developments observed during the first three quarters of the year, driven by strong performances in tourism and construction, along with investment in tourism-related, real estate, and government infrastructure projects,” noted Doornbosch.
Looking ahead, growth is expected to remain positive but moderate in 2026, reaching 2.6% in Curaçao and 2.4% in Sint Maarten. In both countries, growth will continue to be supported primarily by tourism and related activities, while domestic demand is expected to remain positive, albeit at a more moderate pace. Inflation is projected to rise slightly in both countries, reflecting higher international oil and transportation costs. “Remarkable is the strengthening of the current account of the balance of payments with the deficit as percentage of GDP narrowing strongly to single digits for the first time since the inception of the monetary union in 2010, from 16.4% in 2024 to 9.2% in 2025, and to 7.2% of GDP in 2026,” he added.
Heightened geopolitical tensions pose risks to the outlook for the monetary union
However, the current outlook assumes that the conflict in the Middle East does not intensify further into a prolonged disruption. Such a disruption would place additional upward pressure on oil prices, insurance, and freight costs, while dampening domestic demand and tourism activity. “Scenario analyses in the Economic Bulletin indicate that an oil price shock could have substantial  

and persistent medium-term effects, leading to lower growth, higher inflation and a decline in gross official reserves,” warned Doornbosch.
Spillovers from other geopolitical developments, including the war in Ukraine and tensions involving the U.S. and Venezuela, continue to pose risks to the outlook. Trade policy uncertainty and the possibility of new tariff measures may weigh on global trade and investment, while slower-than-expected easing by the U.S. Federal Reserve (Fed) could keep global financing conditions tight and dampen capital inflows.
Policy priorities in the face of a turbulent external environment
In response to rising external risks, Doornbosch emphasizes the need for a focused and forward-looking policy agenda to strengthen resilience and support sustainable growth. Especially considering that as small, open, and highly import-dependent economies, both countries are vulnerable to disruptions in global trade, commodity prices, and external financing conditions.
According to Doornbosch, a key priority is to reduce the monetary union’s structural dependence on imported energy and external transport costs. Over the medium term, continued investment in renewable energy and critical logistics infrastructure, including storage and port capacity, would strengthen the monetary union’s resilience to external commodity and transport shocks. “At the same time, given that a renewed rise in inflation would affect vulnerable households most severely, governments should consider well-targeted temporary support measures for those relying solely on social benefits to cushion the impact on the cost of living, such as the food program introduced in Curaçao during the COVID-19 pandemic, while safeguarding fiscal discipline to preserve macroeconomic stability,” he explained. In this context, maintaining sound fiscal policies becomes increasingly important to ensure that these structural and social objectives remain sustainable over time.
Additionally, a public debt sustainability analysis for Curaçao and Sint Maarten included in the March Economic Bulletin highlights that, while debt remains manageable, current trajectories are vulnerable to external shocks. The analysis reinforces the need to maintain fiscal buffers through sustained current budget surpluses, where feasible, and to advance reforms in health care and social insurance systems to contain longer-term fiscal pressures. “Maintaining the credibility of the exchange rate peg to the U.S. dollar remains a key anchor for stability, requiring our continued monitoring of exchange-rate-related effects on inflation, competitiveness, capital flows, and financial vulnerabilities, while preserving sufficient official reserves. Sustained implementation of these policy measures will be essential to safeguard stability and support durable, sustainable growth in the monetary union,” concluded Doornbosch.
The complete text of the March 2026 Economic Bulletin is available on the CBCS website at
https://www.centralbank.cw/publications/economic-bulletins/2026

Willemstad March 27, 2026
CENTRALE BANK VAN CURACAO EN SINT MAARTEN

PHILIPSBURG:--- Nation, Opportunity, Wealth (NOW), faction leader, Member of Parliament (MP), Lyndon Lewis, has taken note of the recent verdict in the so-called Jasmine criminal case, which the main suspect in the case is the former Minister of Public Housing, Spatial Planning, Environment, and Infrastructure (VROMI) and NOW party leader, Christophe Emmanuel, who was found guilty on multiple counts and sentenced to 29 months of imprisonment.
In light of the recent court verdict, MP Lewis has reached out to his party leader, board and fellow candidates to discuss the future direction of the political party. “While I wish the NOW party leader much strength during his legal battle, my focus, as faction leader in parliament under the NOW umbrella, is to safeguard the best interests of the people of country Sint Maarten,” MP stated.

PHILIPSBURG:--- The Police Force of Sint Maarten (KPSM) conducted targeted control operations on Thursday, March 26, 2026, as part of ongoing efforts to enhance public safety and maintain order in the community.

During these operations, a total of seven (7) vehicles were stopped and controlled, while approximately forty (40) individuals were subjected to stop-and-search procedures. As a result of these actions, one individual was arrested after it was discovered that he was wanted in connection with a case involving threats made against another person with a firearm.

Later in the evening, police attempted to stop two male suspects riding a scooter. During the attempted stop, the riders collided with another vehicle and fled the scene. After a brief search, both suspects and the scooter were located. The two individuals were arrested and transported to the police station, where they remain in custody for questioning.

During the arrest operation in the Dutch Quarter Middle Region, a third male attempted to interfere with police duties. Despite being instructed multiple times to leave the area, the individual refused to comply. He was subsequently arrested for hindering police operations and resisting arrest.

KPSM emphasizes that these types of control operations will continue, particularly during the Carnival season, to ensure the safety and security of all residents and visitors. The public is urged to cooperate with law enforcement officers at all times and to respect ongoing police activities.

PHILIPSBURG (DCOMM):---  Collective Prevention Services (CPS), a department within the Ministry of Public Health, Social Development and Labor (VSA), is advising the public to remain vigilant following recent epidemiological alerts issued by the Pan American Health Organization (PAHO) regarding increased activity of Dengue fever, and Chikungunya across the Americas.

These alerts highlight the elevated risk of transmission in the Caribbean region due to favorable environmental conditions for mosquito breeding.

Both dengue and chikungunya are transmitted by the Aedes aegypti mosquito, which thrives in tropical climates and breeds in stagnant water commonly found in and around homes.

PAHO has indicated that increased rainfall, warm temperatures, and urban conditions across many Caribbean islands create an environment conducive to the spread of these diseases.

As a result, CPS is urging residents of Sint Maarten to take proactive measures to reduce mosquito breeding sites and protect themselves from bites.

Dengue fever can present with high fever, severe headache, pain behind the eyes, joint and muscle pain, nausea, and rash. In more serious cases, it can develop into severe dengue, which may cause bleeding, organ impairment, and can be life-threatening.

Chikungunya, while rarely fatal, is known for causing high fever and severe joint pain that can persist for weeks or even months, significantly affecting quality of life.

Residents are advised to remain alert for increased mosquito activity.

CPS emphasizes that the most effective way to prevent mosquito-borne diseases is by eliminating mosquito breeding sites. Residents are encouraged to regularly inspect their surroundings, especially after rainfall, and remove any standing water in containers such as buckets, tires, flowerpots, and clogged drains. The use of insect repellent, window screens, and protective clothing is also recommended to reduce exposure to mosquito bites.

CPS calls on the Sint Maarten community to take collective responsibility in protecting public health. By remaining informed, vigilant, and proactive, residents can significantly reduce the risk of mosquito-borne diseases.

To report any concerns with mosquito breeding or for any assistance, contact CPS’ vector control team by phone +1(721) 520-4161, 542-1222/1570, or 914.

Vector control can also be contacted by email at: This email address is being protected from spambots. You need JavaScript enabled to view it.