SURINAME ON THE ROAD TO CONSENSUS WITH IMF

SURINAME ON THE ROAD TO CONSENSUS WITH IMF

17-03-2021

17 March 2021:  The Republic of Suriname (the “Republic”) is in the process of reaching consensus with
the International Monetary Fund (the “IMF”) staff on the macro-fiscal framework and policy
commitments to underpin an IMF-supported program.  The IMF staff conducted an official virtual
mission between January 25 and February 9, 2021, where the IMF team met with officials of the
Republic, as well as a broad set of representatives of the private sector, members of the parliament, labor
unions, and civil society. While constructive negotiations with the IMF staff are ongoing, and the
authorities expect a successful conclusion, there is a probability that the staff-level agreement will not be
reached prior to March 24, 2021 in which case the Republic will work towards reaching a staff-level
agreement in the following weeks.


Accordingly, the Republic envisages to launch consent solicitations in relation to each of its 9.875%
Notes due 2023 (the “2023 Notes”) and 9.25% Notes due 2026 (the “2026 Notes”) to extend the
temporary period of payment deferral under the 2023 Notes and the 2026 Notes to allow further time for
the Republic to secure staff-level agreement with the IMF on a Fund-supported program.  The extended
payment deferral period will provide additional time for the Republic to conduct orderly negotiations with
the holders of the 2023 Notes, 2026 Notes, and other international creditors after staff-level agreement is
reached with the objective of defining a sustainable, comprehensive and consensual treatment of the
Republic’s external debt.
The Republic remains committed to a good faith and transparent restructuring process with all of the
Republic’s creditors.