- The considerable external shocks to the economies of the monetary union. In St. Maarten, the tourism industry was affected by the hurricane disaster. In Curaçao, the crisis in Venezuela impacted the oil sector (refinery) as well as the harbour, aviation (the collapse of InselAir) and free-zone activities.
- The conclusion of the debt relief of the former Netherlands Antilles by the Netherlands, which ended the related inflow of foreign exchange in 2018.
- Higher imports due to increased oil prices and the reconstruction needs of St. Maarten.
- Higher foreign interest rates.
https://www.thedailyherald.sx/islands/89969-cbcs-tightens-monetary-policy
