Minister Geoffrey Wever (Finance, Economic Affairs and Primary Sector) announced that the IMF’s “Staff Concluding Statement of the 2025 Article IV Mission” is now available on the IMF website. The statement summarizes the Fund’s assessment of Aruba’s current and expected financial, economic, and monetary developments following its visit from September 23 to October 6, 2025.
According to the IMF, a strong rebound in tourism and hotel investment has driven Aruba’s economic recovery. Real GDP grew 10.6% in 2022, followed by 8.9% in 2023 and an estimated 7.6% in 2024. Inflation fell from 7.7% (Aug 2022) to -0.8% (Aug 2025) due to lower food and energy prices. Unemployment dropped to 4.3% in 2024, reflecting strong labor demand. The balance of payments improved from a 17.2% of GDP deficit to a 9.3% surplus in 2024. International reserves remain healthy at 7.9 months of imports, alongside a solid banking sector.
Robust growth combined with budget discipline under the fiscal oversight law contributed to surpluses of 3.0% (2023) and 3.7% (2024). Public debt declined from 116.3% of GDP (2020) to 68.6% at end-2024. For 2025–2026, the IMF expects budgets to meet fiscal rules, putting Aruba on track toward 50.4% of GDP debt by 2030. The Fund recommends improving operational spending efficiency and creating new revenue sources to ensure durable debt reduction, noting that the Rijkswet on financial supervision will strengthen the fiscal framework.
To mitigate risks—such as geopolitical tensions, prolonged uncertainty from a potential escalation of trade wars, climate risks, and delays in public investment execution—the IMF urges strong inter-departmental coordination and planning to protect macroeconomic stability and vulnerable groups. The Fund also welcomes Aruba’s membership in the Coalition of Finance Ministers for Climate Action.
Beyond tourism, the IMF encourages development of agriculture, the circular economy, creative industries, and the energy transition. Upgrading infrastructure and the business climate is essential to mobilize private investment, support tourism, and advance diversification.
“The IMF continuously evaluates our country’s development, and it’s important that everyone has access to this publication,” Minister Wever said, inviting the public to read the 2025 Article IV Mission concluding statement on the IMF website.
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