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Suriname and the IMF Reach Staff-Level Agreement on the Fourth Review of the Extended Arrangement Under the Extended Fund Facility

Suriname and the IMF Reach Staff-Level Agreement on the Fourth Review of the Extended Arrangement Under the Extended Fund Facility

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a…
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IMF Executive Board Suriname

IMF Executive Board Completes Third Review Under the Extended Fund Facility for Suriname

September 25, 2023 Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the third review under the Extended Fund Facility (EFF) arrangement for Suriname. The completion of the review allows the authorities to draw the equivalent of SDR 39.4 million (about US$52 million), bringing total purchase to SDR 118.2 (about US$156 million).…
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Suriname & the IMF

Suriname & the IMF

eyesonsuriname The IMF staff team and Surinamese authorities reached a staff-level agreement on the second review of the authorities’ economic recovery program supported by the Extended Fund Facility (EFF). The review is subject to approval by the IMF’s Executive Board.. Suriname’s economy continues its slow post-pandemic recovery, but the shock of higher commodity and food…
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Hope for Suriname

IMF Visits Suriname

Satisfaction for whom ? eyesonsuriname Washington DC/ Paramaribo/Amsterdam, May 14th 2022–As part of the second review of the agreed Extended Fund Facility (EFF) program between Suriname and the International Monetary Fund (IMF), a mission of this multilateral organization led by Mr. Ding Ding, visited Suriname from 9 to 13 May 2022.  During this mission, discussions…
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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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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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