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Suriname: Suriname receives US $ 690 million in support from the IMF

Between Suriname and the International Monetary Fund (IMF), agreement has been reached at a technical level on an economic reform program to get the Surinamese economy back on track. This is reported by the Minister of Finance and Planning, Armand Achaibersing. This support for budget and policy support will be roughly equivalent to the amount of US $ 690 million that will be made available by the IMF.

The IMF program also paves the way for Suriname to obtain additional financial support from multilateral organizations, notably the World Bank, Inter-American Development Bank (IDB), and the Caribbean Development Bank (CDB). Achaibersing confirms that after months of virtual negotiations led by chief negotiators Karel Eckhorst of Suriname and Ali Alichi of the IMF, supported by a team of experts, the time has come for the technical negotiations to be concluded. To conclude this, a conversation between the IMF and President Chan Santokhi took place on Wednesday evening.

The aim of the program is to protect society, especially the less well-off, to restructure the assumed Surinamese debt, to control the course, to lower inflation and to lay the foundation for a strong and sustainable economic recovery. This agreement will be approved by the IMF Executive Board, after the so-called ‘prior actions’ have been carried out. The aim is to complete this within two months. The IMF Executive Board includes representatives from all countries affiliated to the IMF.

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