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Suriname: PUMPED OVER SRD 1 BILLION INTO ECONOMY IN TWO MONTHS

In the past two months, the government has spent more than SRD 1,048,800,000 on treasury bills. The money has now largely been pumped into the economy, says a banker. The securities were bought by the Central Bank of Suriname (CBvS).

Treasury promises worth SRD 648,800,000 were issued on April 18. “The general objective of this agreement is within the framework of article 21 of the Banking Law of October 10, 1956”, is indicated when this deal was concluded between Finance and the CBvS. This agreement once again gives an advance to the government under the Banking Law. The funds must be repaid after a year at an interest rate of 9 percent.

Also on May 27, the CBvS took over government treasury promises, now worth SRD 400,000. This concerned a loan based on the Exceptional Condition Law COVID-19. These funds are intended for the announced COVID-19 Emergency Fund to combat the costs of the corona pandemic. This loan must also be repaid after a year at an interest rate of 9 percent. In the meantime, financial payments are made from the aforementioned fund to the unemployed, people who have declined in wages due to the corona measures and who are socially weak. The survival packages provided to those in need are also financed from this fund.

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