(NLTimes)鈥擣itch Ratings has announced the great news that the credit rating (rate of financial credibility) of the Aruban government has improved to BB+. This is the result of the evaluation by Fitch Ratings back in February, where there have been many discussion with various government actors and those from the private sectors.
The ratings outlook, which reflects the prospect that Fitch Ratings takes in the improvement of the ratings in the near future, remains stable. This reflects the debt and high interest rate. Aditionally, this also reflects the vulnerability of a singular economic pilar on the island, namely tourism, for external shock.
Fitch Ratings gives the Aruban government recognition for the strong recovery in Aruba鈥檚 economy and public finanses after the pandemic. Other positive points accentuated by Fitch Ratings is the political stability and the constitutional relationship with The Netherlands, which has been proven during the pandemic through financial support and vaccine donations.
The Aruban government, particularly the minister of Finance and Culture, Mrs. Xiomara Maduro, wants to give thanks to those that have cooperated in one form or another in these results. Despite some major financial challenges that the island faced, Aruba was able to gain trust from those who evaluated the financial credibility of the government.
