ORANJESTAD (AAN): As part of a series of Town Hall meetings with local organizations and trade associations, Minister of Finance, Economic Affairs, and the Primary Sector, Mr. Geoffrey Wever, met with the Chamber of Commerce (KVK) to share information and discuss the implications of the Rijkswet houdbare overheidsfinanciën (HOFA) and the Landsverordening waarborging houdbare overheidsfinanciën (LWHO).
The Town Halls aim to provide transparent and accurate information while creating opportunities for questions, dialogue, and exchange of opinions. The meeting with KVK offered a valuable platform to discuss the potential impact of both laws on Aruba’s financial future.
Minister Wever explained the recent advice from the Raad van Advies and addressed questions concerning Article 38. He noted that HOFA could significantly reduce Aruba’s financing costs. For example, Aruba currently pays approximately 6.9% interest on COVID-related loans from the Netherlands. Implementing HOFA could lower this to around 3.5%, resulting in a reduction of Afl. 128 million in interest.
In addition, other international loans with an average interest of 6.5% could be refinanced at around 3.5%, potentially reducing interest expenses by an additional Afl. 366.5 million. Minister Wever emphasized that these savings will be reinvested directly into projects that improve residents’ quality of life, such as infrastructure, roads, schools, and public transport. Aruba maintains full control over these investments.
The KVK meeting featured open dialogue, with business sector members asking questions and sharing perspectives. Minister Wever thanked KVK for their active participation. The Town Hall series will continue with other organizations to ensure the public has access to accurate information and the opportunity to engage in discussions about Aruba’s financial future.
