What is the Antilles Guilder (NAG)?
Credit Ratings & Outlook
In the latest credit ratings from December 1970, Finally, S&P last issued a A- rating, with a negative outlook.
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The Antillean Guilder is the currency for the Netherlands Antilles. The Netherlands Antilles is part of a long chain of islands near the eastern end of the Caribbean Sea, a part of the Kingdom of the Netherlands. The two islands designated as regions of the Netherlands Antilles are two island groups in the Caribbean Sea – one includes Curacao and the Bonaire north of Venezuela; the other is east of the Virgin Islands. The Antilles Guilder, also known as the Florin or gulden (NAG), is subdivided into 100 cents. Note denominations are 5, 10, 25, 50, 100, and 250. Coin denominations are 5, 2.5, 1, 0.5, 0.25, 0.1, 0.05, and 0.01 cents. All major currencies are accepted, although change is given in Guilders. The Gulden is fixed to the US dollar at an exchange rate of 1.79:1. Aruba, also a part of the Kingdom of the Netherlands uses the Guilder currency. However, Aruba calls the currency the Aruba Guilder, although the fixed exchange rate is the same as that of the Netherlands Antilles.
Sovereign Ratings for Antilles
Antilles is not rated.
What does it look like?
The Netherlands Antilles has a parliamentary government. Their government is divided into three branches: executive, legislative, and judiciary. The chief of state is the Queen, who is represented by the Governor General. The head of government is the Prime Minister. The monarch is hereditary; however, the monarch appoints the governor general for a six-year term. Following elections, the leader of the majority power is elected Prime Minister. The legislative branch is made up of a unicameral body of 22 seats, where members are elected by popular vote to serve four-year terms. The Judicial branch consists of the Joint High Court of Justice, where the monarch appoints the judges.
Chief of State:
Queen Beatrix of the Netherlands (since 1980)
Frits Goedgedrag (since July 2002)
Head of Government, Prime Minister:
Etienne YS (since June 2004)
Central Bank of the Netherlands Antilles:
Run by the Board of Supervisory Directors
Board of Supervisory Directors:
Key Economic Factors
The Netherlands Antilles economy is heavily dependent upon tourism, petroleum refining, and offshore finance. Although GDP has declined a bit in recent years, the regions have a high per capita income and highly developed infrastructure as compared with the other areas in the region. They import almost all of their consumer and capital goods, with the US and Mexico being their major suppliers. Development of agriculture has been difficult because of poor soil and inadequate water supplies. The tourism sector accounts for an 84% share of the GDP. The majority of the rest of the GDP relies on the industry sector.
(84% of GDP), Curaco, SInt Maarten, Bonaire.
(15% of GDP: petroleum refining, petroleum transshipment facilities, light manufacturing.
(5 million, 2002) – petroleum markets.
(.82 billion, 2001) – machinery and electrical equipment, crude oil, chemicals, food stuffs.
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- Other Currencies Accepted: All major currencies
- Currency Peg: Yes, to the United States Dollar
- Black Market for Currency: Yes
- Currency Volatility: Low
- Estimated GDP Per Capita: 11,400 USD (2003)
- Languages Spoken: Dutch, English, Papiamentu, Sranan