The Suriname government has welcomed the latest assessment of the country’s economy by the International Monetary Fund (IMF) with President Chandrikapersad “Chan” Santokhi thanking the population for the “great sacrifices” to avert financial ruin.
“Despite the heavy restructuring process, we have still found room to provide relief to those who have made sacrifices,” Santokhi said.
The IMF said Suriname has requested an extension, until March 2025, of its Extended Fund Facility (EFF) as well as seeking an increase of about US$63 million from the Washington-based financial institution.
The Washington-based financial institution said that its staff and the Surinamese authorities have reached a staff-level agreement on the fourth review of the country’s economic recovery programme that is being supported by the EFF and that the review is subject to approval by the IMF’s executive board.
But the IMF noted that the fiscal discipline and tight monetary policy are bearing fruit in restoring macroeconomic stability and that the economy in the Dutch-speaking Caribbean Community (CARICOM) country is growing, inflation is coming down, and investor confidence is returning.
The IMF said Suriname is on track to achieve the central government primary surplus target of 1.6 per cent of GDP (gross domestic product) this year and that the structural reform agenda is progressing, albeit with some delays.
