Suriname: Request for an Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Suriname

December 23, 2021

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Format: Chicago

Suriname: Request for an Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Suriname, (USA: International Monetary Fund, 2021) accessed September 19, 2024

Summary

Suriname faces systemic fiscal and external imbalances as a result of many years of economic mismanagement. Usable foreign reserves were depleted and, in the absence of other sources of budget financing, fiscal deficits were monetized. Inflation has, as a result, surged and there has been a significant depreciation of the exchange rate. Public debt, at 148 percent of GDP at end-2020, is unsustainable. In addition, there are important solvency problems embedded in the domestic banking system.

Subject: Arrears, Exchange rates, External debt, Foreign exchange, International organization, Monetary base, Monetary policy, Money, Public debt

Keywords: Arrears, Caribbean, Exchange rates, Global, Government of Suriname, Monetary base, Staff appraisal, Staff representative, Surinamese authorities, Term deposit

Publication Details

Pages:

111
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/280
Stock No:

1SUREA2021001
ISBN:

9781616359799
ISSN:

1934-7685

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