Accepting the possibility of a short-term conflict between monetary and financial stability must not mean that the moral hazard problem is denied or forgotten. And finally, a last reason for caution is that temporarily deviating from the declared price stability objective for financial stability reasons might be difficult to explain to the public.
Imports rose as a result of more merchandise imports to meet tourism demand and the import of construction materials related to investment projects, including the Simpson Bay Causeway. However, a decline in merchandise imports by the free-zone companies in Curaçao combined with a decline in domestic demand in Curaçao moderated import growth.