The inflation rate will increase as the non-oil merchandise imports from Venezuela will be replaced by imports from other countries at a higher price. The unemployment rate will rise with 0.5%. 7  The international financial services sector has been an important pillar of the economy of Curacao since the 1930.
However, over the past twenty years, the sector has experienced a gradual decline due to among other things, the termination of the Tax Treaty with the United States and the abolishment of the US Foreign Withholding Tax. Also, increased competition from taxexempt jurisdictions has affected our international financial services sector.