PRESS STATEMENT BY THE MINISTER OF FINANCE SURINAME

Paramaribo, 22 October 2021

Minister of Finance Armand Achaibersing participated in the IMF and World Bank Group Annual Meetings on October 11-18, 2021.

Since President Chandrikapersad Santhoki took office, the Government of Suriname (the “Government”) has engaged in a reform agenda to put the country’s economy and finances back on a sustainable track. The Government reached on 29 April a Staff Level Agreement on an Extended Fund Facility (“EFF”) with the IMF and, since then, has implemented all prior actions for the program to be approved.

On 2 September, the 22 member countries of the Paris Club, following a review of the macroeconomic and financial situation of Suriname and reform program presented by the Government, provided financing assurances to support the approval by the IMF Executive Board of the EFF.

However, almost 6 months after the Staff level agreement, Suriname is still waiting for its program to be considered by the IMF executive board. 

During the IMF Annual Meetings, Minister Achaibersing, in meetings with his peers (IMF Governors), deplored the stalemate Suriname is facing. 

The Government of Suriname reiterates its thanks to Brazil’s Economy Minister Paulo Guedes, chair of the OEDBR IMF Constituency (the “Constituency”), for addressing the situation of Suriname at the International Monetary and Financial Committee (IMFC), and to all Finance Ministers of the Constituency for respectfully urging the IMF to call a board meeting to consider Suriname’s program request.

In line with the Government’s commitment to transparency, the Ministry of Finance is releasing:

• The Statement issued by Minister of Finance A. Achaibersing at the Caribbean Governors IMF meeting with Managing Director Kristalina Georgieva on October 18
• The IMFC Statement by Paulo Guedes, Minister of Economy of Brazil, on behalf of Brazil, Cabo Verde, Dominican Republic, Ecuador, Guyana, Haiti, Nicaragua, Panama, Suriname, Timor-Leste, and Trinidad and Tobago 
• Questions and Answers on Suriname’s ongoing negotiations with the IMF 
• Updated Economic and financial indicators