PHILIPSBURG:--- During today’s luncheon of the Curaçao Business Association (“Vereniging Bedrijfsleven Curaçao”), Mr. Bob Traa, acting president of the Centrale Bank van Curaçao en Sint Maarten (CBCS), sparked the interest of those present with his diagnosis of and possible solutions for the current economic situation in Curaçao.
Traa pointed out that labor productivity shows a negative trend in Curaçao, while at the same time the growth of potential working-age persons is shrinking. As a result, the potential growth of the economy is negative. When productivity declines, business firms reduce employment to lower costs, which increases unemployment. Curaçao not only has
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