The MinPres’ summary of her progress in the negotiations with the Dutch, as well as her articulate explanation of the complicated matters at hand, was mastery!
I turned Summit III off, when those in denial managed to unmute their sound and started talking, I then went back to hear the wrap up. It was worth my while.
So why should we sign with the Dutch?
Just in case you were living under a rock for the past 5 months.
The benefits are great. Sure, there is no free lunch, but we are at the end of our rope.
And the financial supervision will be temporary, the MinPres explained, with exit strategies starting in 2026 and culminating in 2029, providing we manage to drive down debt to GDP to 50%, with annual budget surpluses of at least 1%, a number of years in a row.
For 2, almost 3 years, Aruba could focus on its recovery without financial pressure, meaning under RAFT Aruba could totally ignore the international rating agencies, because the Dutch committed two years of interest free loans.
In the past, looking for loans on the international market, with poor ratings from one of the Big Three credit rating agencies, S&P, Moody’s, and/or Fitch Group, interest rates would go up, but the Dutch promised to provide, thereby alleviating enormous pressure.
Autonomy, the MinPres mused, that’s in our DNA, we are innovative, and solution oriented, BUT Covid19 brought our economy to its knees, let’s take the helping hand extended, it will make us stronger, we have no alternative.
And we’re still talking, she reassured the mules.
The appropriate pension age will be studied, dollarization studied, parliament consulted, the viability of our national entities discussed, we’re taking a step back, in order to take a leap forward.
Choose help, she concluded emotionally, if not Aruba will be broken.
You must admit she is a verbal acrobat, a debate wizard a master politician.
Just sign the bleeding thing, we have a lot of work to do.
