The implications of the financial- economic crisis for the financial services industry Presentation:...
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The implications of the financial- economic crisis for the financial services industry Presentation: Globalaw Americas Regional meeting Hotel Hyatt Regency Curacao June 11 th , 2010 Drs. A.G. Romero Executive director Bank van de Nederlandse Antillen
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Transcript of The implications of the financial- economic crisis for the financial services industry Presentation:...
The implications of the financial-economic crisis for the financial services industry
Presentation: Globalaw Americas Regional meeting Hotel Hyatt Regency Curacao
June 11th , 2010Drs. A.G. Romero
Executive director Bank van de Nederlandse Antillen
Challenges for the local financial sector.◦ GDP growth 1%◦ Unemployment rate drops to 10%
World economic and financial environment.◦ World Economic outlook◦ Performance selected countries ◦ Dow Jones industrial avg. New York◦ AEX Amsterdam◦ Euro dollar exchange rate
Agenda:
Financial services represent 16% of the economy
16% employment created in the sector Average of 11% foreign exchange earnings
Importance financial services industry in Curacao
Adherence to budgetary norms and corporate governance rules
Maintaining the financial services industry flexible and transparent
Transparency and information exchange standards
Reduction corporate tax rates Flexiblisation of labor market laws
Challenges for the country Curacao
China
USA
Greece
Portugal
Italy
Spain
Euro – dollar exchange rate Q1 2001 – Q2 2010
Gold World spot prices (in USD)
AEX index Amsterdam Q4 2008- Q2 2010
AEX AmsterdamQ2 2007- Q2 2010
Dow Jones Industrial Avg. (New York)Q4 -2008 - Q2 2010
Dow Jones Industrial Avg Q2 2007- Q2 2010
