Curaçao has one of the highest standards of living in the Caribbean, along with a well-developed infrastructure. However, growth has lagged behind that of other countries in the region for a number of years. An economic contraction is expected in 2020, due to lockdown restrictions in operation to contain the Coronavirus (COVID-19) pandemic. The recession in Venezuela (Curaçao’s main trading partner) poses severe problems affecting refining, the offshore financial sector, trade and tourism.
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