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The COVID-19 pandemic inflicted another major shock on the economies of Curaçao and Sint Maarten, which followed category 5 hurricanes in Sint Maarten in 2017 and the spillovers of the Venezuelan crisis on Curaçao. Despite the substantial response measures financed by The Netherlands, the economic contraction in 2020 was severe.
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This paper improves short-term forecasting models of monthly tourism arrivals by estimating and evaluating a time-series model with exogenous regressors (ARIMA-X) using a case of Aruba, a small open tourism-dependent economy. Given importance of the US market for Aruba, it investigates informational value of Google Searches originating in the USA, flight capacity utilization on the US air-carriers, and per capita demand of the US consumers, given the volatility index in stock markets (VIX). It yields several insights. First, flight capacity is the best variable to account for the travel restrictions during the pandemic. Second, US real personal consumption expenditure becomes a more significnat predictor than income as the former better captured impact of the COVID-19 restrictions on the consumers’ behavior, while income boosted by the pandemic fiscal support was not fully directed to spending. Third, intercept correction improves the model in the estimation period. Finally, the pandemic changed econometric relationships between the tourism arrivals and their main determinants, and accuracy of the forecast models. Going forward, the analysts should re-estimate the models. Out-of-sample forecasts with 5 percent confidence intervals are produced for 18 months ahead.
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Selected Issues.
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Aruba managed to contain the pandemic in the first months of the outbreak but experienced a resurgence of new infections in the summer. The economic impact of COVID-19 is particularly severe given Aruba’s high dependency on tourism. While the authorities’ swift response has helped contain the human and economic damage, it could not avoid a severe GDP contraction.
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This paper discusses the high-level summary technical assistance report for Curaçao and Sint Maarten on financial soundness indicators (FSI). The High-Level Summary Technical Assistance Report series provides high-level summaries of the assistance provided to IMF capacity development recipients, describing the high-level objectives, findings, and recommendations. The mission, in collaboration with the staff of the Centrale Bank van Curaçao en Sint Maarten (CBCS), successfully developed bridge tables to compile FSIs for commercial banks and savings banks, which could be linked in the long term with its database to automate the FSIs compilation process. The mission also identified a few areas for improvements related to the data collection framework for the deposit takers to be implemented in the medium term. As a result of the mission, the CBCS is able to start reporting the FSI-standard reports, financial soundness metadata, and financial soundness institutional coverage for dissemination on the IMF’s FSI website for Curaçao and Sint Maarten. A timeframe for implementing the mission recommendations including reporting FSIs to statistics department was also discussed and agreed on with the CBCS staff.
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The economies of Curaçao and Sint Maarten are recovering from the pandemic but facing multiple challenges, including spillovers from the war in Ukraine. Curaçao was in a protracted recession even before the pandemic due to spillovers from the Venezuelan crisis. Sint Maarten needs to fully recover not only from the pandemic, but also from the devastating 2017 hurricanes.
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This paper discusses the high-level summary technical assistance report for Curaçao and Sint Maarten on financial soundness indicators (FSI). The High-Level Summary Technical Assistance Report series provides high-level summaries of the assistance provided to IMF capacity development recipients, describing the high-level objectives, findings, and recommendations. The mission, in collaboration with the staff of the Centrale Bank van Curaçao en Sint Maarten (CBCS), successfully developed bridge tables to compile FSIs for commercial banks and savings banks, which could be linked in the long term with its database to automate the FSIs compilation process. The mission also identified a few areas for improvements related to the data collection framework for the deposit takers to be implemented in the medium term. As a result of the mission, the CBCS is able to start reporting the FSI-standard reports, financial soundness metadata, and financial soundness institutional coverage for dissemination on the IMF’s FSI website for Curaçao and Sint Maarten. A timeframe for implementing the mission recommendations including reporting FSIs to statistics department was also discussed and agreed on with the CBCS staff.
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Family Practice --- standards. --- Netherlands. --- Holland --- Kingdom of the Netherlands --- standards
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Als Dichter des Vaderlands (2019-2020) nam Tsead Bruinja zich voor een inclusieve bloemlezing samen te stellen die ruimte bood aan zo veel mogelijk talen, streektalen en dialecten. Zijn selectie begint in 1945 en beperkt zich tot poëzie die geschreven is binnen het Koninkrijk der Nederlanden. Dat betekent dat er poëzie te lezen is uit Indonesië en Suriname en van de Antillen, maar ook dat er gedichten in staan van nieuwe Nederlanders uit het Midden-Oosten en Zuid-Amerika. Met deze bloemlezing wil Bruinja een andere blik op de Nederlandse poëzie bieden. In bijna alle belangrijke bloemlezingen tot dusver ontbreken bijvoorbeeld de Friese en de Antilliaanse poëzie, terwijl die poëzie in contact staat met de Nederlandstalige poëzie en de wereldpoëzie.0"Irakezen, Iraniërs, Amerikanen en anderen hebben in Nederland werk gemaakt dat met ons te maken heeft. Dat grotere verhaal ontbreekt tot nu toe in de bloemlezingen. "Onze" literatuur is die van Remco Campert, Tjitske Jansen en Radna Fabias, maar ook die van Tsjêbbe Hettinga, Jan Glas en Nydia Ecury, van Mowaffk Al-Sawad en Mia You." Tsead Bruinja.
Dutch literature --- Kingdom of the Netherlands --- anno 1900-1999 --- anno 2000-2099
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Duodenal Ulcer --- HLA Antigens --- genetics. --- Netherlands. --- Aruba --- Curacao --- Holland --- Kingdom of the Netherlands --- Sint Maarten --- Theses --- genetics
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