Suriname: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Suriname
IMF Staff Country Reports, July 31, 2024
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- Suriname: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Suriname
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Bibliographic details
- Published: July 31, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400285738.002
Key findings and headline assessment
- The paper presents Suriname’s Sixth Review under the Extended Arrangement under the Extended Fund Facility.
- The authorities’ strong policy and efforts to stabilize the economy are yielding positive results: the economy is growing, inflation is on a steady downward trend, and investor confidence is returning.
- Monetary policy is supporting disinflation.
- The authorities’ demonstrated commitment to flexible, market-determined exchange rate is supporting international reserves accumulation.
- Building on the progress made thus far under the program, continued efforts are needed to entrench fiscal discipline, while protecting the poor and vulnerable, and further strengthen institutions and address governance weaknesses.
Policy agenda and reforms under implementation
- Restoring fiscal and debt sustainability through fiscal consolidation and debt restructuring.
- Protecting the vulnerable by expanding social protection.
- Upgrading the monetary and exchange rate policy framework.
- Addressing banking sector vulnerabilities.
- Advancing the anti-corruption and governance agenda.
- Finalization of the central bank recapitalization plan to help further strengthen its operational independence and financial autonomy.
Areas requiring continued effort
- Entrench fiscal discipline, while protecting the poor and vulnerable.
- Further strengthen institutions and address governance weaknesses.
- Continue implementation of the ambitious economic reform agenda to secure fiscal and debt sustainability and financial stability.
Subject classification and keywords
- Subject: Arrears, Domestic debt, Energy subsidies, Expenditure, External debt, Public debt
- Keywords: address governance weakness, Arrears, banking sector vulnerability, Caribbean, Domestic debt, Energy subsidies, FX trading platform, governance agenda, government T-bill exposure, Policy outlook, policy reform, State oil company, Surinamese authorities
Content in this bundle
- Executive Summary