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Month: February 2022

News

Suriname Recovery

Possibly Bumpy days Ahead

Reform without unrest Part V Global Capital GC: What are the key reforms that this government has undertaken and how will they affect creditworthiness? Minister Achaibersing: We are not just fixing the roof. Given what we inherited, we are called upon to build new foundations. Under President Santokhi, our government has taken immediate steps to put…
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Crypto Fraud

Fighting Rise in Crypto Fraud

Proliferation on Web3 Up to 2 trillion u.s. dollars laundered per year eyesonsuriname Amsterdam, February 21st 2022– Cryptocurrencies such as bitcoin have continued to rise in profile, including as a method to pay for goods and services in the mooted next generation of the internet, web3.  But as more money pours into the so-far loosely regulated…
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Suriname New Economy

Suriname: challenge to create a new, modern economy.

The first steps. by Anthony Caram Amsterdam, February 21st 2022– Deep changes are needed, because we are confronted with obstacles and bottlenecks in every area. Therefore, the emphasis should gradually be placed on sustainable production and export growth, controlled consumption at more realistic prices, as well as more balanced budgetary and monetary relations. Prosperity growth…
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Suriname Economic Recovery

Economic Recovery Suriname After Chaos Previous Government

Restructuring before oil FID  Part IV Amsterdam, February 18th 2022 — GC: Indeed, the projections in the IMF programme do not consider recent major offshore oil discoveries, citing the absence of clear private sector investment plans to extract these resources. How close is a final investment decision (FID) from Total and Apache on their Suriname discoveries?…
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Suriname Oil Boom

Suriname and its Oil Boom

To be or not to Be  By Heike Meinhardt Amsterdam, February 18th 2022– Given that the IMF, IDB and World Bank are supposed to help Suriname resolve its debt crisis, pushing over $1 billion in new debt worsens the problem. Upholding policies for big oil profits is reckless for Suriname’s finances and devastating for the climate.…
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Suriname's economic recovery

Suriname on its way to recovery

Possible need for bondholders Part III Global Capital Amsterdam, February 17th 2022– GC: Can you be more specific about the forthcoming proposal to bondholders and other external commercial creditors? Minister Achaibersing: It will contain two components. Firstly, the fixed income part will reflect a reduction of outstanding debt — including accrued interest and arrears — that is…
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Debt Restruturing in Surniame

Suriname on its way 

Value recovery instruments proposed Part II Global Capital Amsterdam, February 16th 2022– GlobalCapital: Last year, there was a public dispute with bondholders. How are your negotiations going with the bondholder committee today? Finance Minister Armand Achaibersing: Debt restructuring negotiations typically take place amid great uncertainty, and disagreements surrounding the debtor country’s economic prospects are common. But…
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Armand Achaibersing and Albert Ramdin

Suriname to offer creditors oil-linked bonds

ESG opportunity in restructuring Part I globalcapital / eyesonsuriname Amsterdam, February 15th 2022== Suriname’s debt workout has the ingredients to be a fascinating case study for sovereign restructuring. GlobalCapital spoke exclusively to the two ministers leading creditor negotiations, Armand Achaibersing (l) and Albert Ramdin (r). Suriname is only just pulling out of a deep recession,…
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Putin with Bolsonaro

Bolsonaro on the Move

China, Russia and Hungary eyesonsuriname.com Amsterdam, February 14th 2022– Days after visiting Suriname and Beijing, Brazilian President Jair Bolsonaro is scheduled to arrive in Russia on Tuesday for an official visit, which has been described at a highly awkward diplomatic timing, given the stand-off in Ukraine between Moscow and the Western alliance. Perhaps the Surinamese secret…
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The Global Gateway

Strategic Thinking eyesonsuriname/Anton JieSamFoek Amsterdam, 14 february 2022– The European Commission and the High Representative for Foreign Affairs and Security Policy launched the Global Gateway a few weeks ago. The new European Strategy to boost smart, clean and secure links in digital, energy and transport and strengthen health, education and research systems across the world…
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