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Suriname: Government moving towards consensus with IMF

The government is currently moving towards consensus with the International Monetary Fund (IMF) on support for the Recovery Plan. It expects to announce the successful completion of the so-called ‘Staff Level Agreement’ (SLA) in the short term. The SLA does not yet signify official cooperation, but a technical agreement on the form and content of the support for the Surinamese recovery plan. The accompanying documents are then submitted to the IMF Executive Board.

The original deadline for the SLA was set by Suriname on March 24, due to agreements with creditors. Since there is a chance that this date will be exceeded, Suriname will issue precautionary requests for permission to extend the postponement of payment (‘standstill’) of the so-called ‘Oppenheimer bonds’. This will give Suriname extra time to finalize the negotiations in an orderly and systematic way, Finance and Planning reports in a press release.

After the SLA, you can proceed to the next step of the adoption of the Extended Fund Facility (EFF) in the Executive Board. This will take place after a few weeks, after which the IMF will come in with balance of payments support to the Central Bank of (CBvS). This will considerably strengthen the position of the CBvS in one go.

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