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Suriname: C-47 fears social unrest when the exchange rate is released

In order to protect the country from inflation as we saw it in the 1990s, it is sensible, according to C-47 chairman, Robby Berenstein, not to let go of the exchange rate now. Then there was hyperinflation with a huge decline in purchasing power. He also states in the interview with Suriname Herald that a social agreement should be signed between the government and the social partners.

These things are necessary to guarantee price stabilization. Berenstein says C-47 has not had good experiences with an unleashed exchange rate. Although the price is determined by supply and demand, he notices that the exchange rates on the black market are quite high. These are maintained because citizens look for the highest exchange rate.

The C-47 foreman says that no one benefits at this time from a wage increase, because this entails price differences. Suriname is an import economy, if the importers have to buy expensive dollars, this is reflected in the price. In crisis, he believes consumer behavior should be monitored.

Although C-47 has not yet been invited by the government, Berenstein says price control is the most important aspect to talk about if the government wants to maintain purchasing power. If purchasing power is further lost, Berenstein predicts unrest after unrest.

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