Minister of Finance Xiomara Maduro meets with Fitch Ratings

ORANJESTAD – For Aruba's recovery, the government needs to stay in continuous contact with the rating agencies that evaluate our financial and economic situation. 

Minister of Finance Xiomara Maduro meets with Fitch Ratings.Therefore, last week the Minister of Finance met with Fitch to inform them about the new government and the institutional relations with the Netherlands, Budget 2021 and 2022, and its domestic and external debts.

Minister of Finance Xiomara Maduro meets with Fitch Ratings.Regarding debt refinancing, Minister Maduro explained that usually every year before Aruba can seek the necessary financing on the international market to comply with the external debt of our country, the Fitch rating agency evaluates Aruba. In their evaluation reports, they give investors an indication of the ability of Aruba to meet its financial commitments.

For 2021 y 2022, Aruba reached an agreement with the Netherlands that the external debt for these two years will be covered with an interest-free loan from the Netherlands. For this reason in the foreseeable future, Aruba will not look for financing on the international market. 

As regards domestic debts, their refinancing is part of the agreements with the Netherlands. To cover this financial necessity, the government will issue bonds, as it usually does to refinance domestic debts with a maturity rate of one year. It is essential to point out that domestic refinancing does not increase our national debt.

Minister of Finance Xiomara Maduro meets with Fitch Ratings.

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