Dangui Oduber Critiques Lending Policy
Parliamentarian Dangui Oduber (MEP) has launched a criticism against Minister Wever regarding the proposed maximum interest rate for small loans. The Minister of Justice was present in Parliament to discuss the Landsverordening Regeling Kredietverlening, which is set to take effect on January 1, 2027.
The 25% Interest Rate Decision
During the discussions, it was revealed that the Minister had several advisory options for the maximum interest rate. The Central Bank of Aruba advised a rate of 22%, similar to the policy in Bonaire, while another consultancy suggested a range between 18% and 20%. However, the Minister’s own consultant recommended the highest option of 25%, which the Minister ultimately chose.
Lack of Empathy for Consumers
Oduber questioned the decision to select the highest possible rate, arguing that it shows a lack of empathy for the Aruban people. He stated that choosing a lower rate would have better served the interests of consumers relying on credit for essential goods such as appliances and electronics.
