In a small saucepan, bring the water and sugar to a boil. Cook over high heat, uncovered, for 12 minutes or until the mixture caramelizes. Remove from the heat and let stand for 1 minute. Gradually whisk in the cream cheese. Whisk until the cheese is melted and smooth; place back on the heat, if necessary. Pour into a ramekin. Refrigerate.
Recipes with the "Healthy Pick" stamp have been evaluated by a registered dietitian member of the Ordre professionnel des diététistes du Québec.