Suriname: Seventh Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of Performance Criteria, Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname

IMF Staff Country Reports, October 29, 2024

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Suriname: Seventh Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of Performance Criteria, Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname

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Bibliographic details

• Published: October 29, 2024
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400290916.002

Program objectives and policy framework

• The review covers Suriname’s Seventh Review under the Extended Arrangement under the Extended Fund Facility and related requests for modification of performance criteria, waivers of nonobservance of performance criteria, and a financing assurances review.
• The program aims to restore macroeconomic stability and debt sustainability while laying foundations for strong and more inclusive growth.
• Main program pillars include:
  • Policies to restore fiscal and debt sustainability.
  • Measures to protect the poor and vulnerable.
  • Upgrades to the monetary and exchange rate policy framework.
  • Actions to address banking sector vulnerabilities.
  • Advancement of the anti-corruption and governance reform agenda.

Monetary, exchange rate, and central bank reforms

• A tight monetary policy is supporting disinflation.
• Implementing the recently finalized plan for central bank recapitalization will strengthen the central bank’s operational and financial autonomy.
• The authorities’ demonstrated commitment to a flexible, market-determined exchange rate is supporting international reserve accumulation.

Structural reforms and institutional priorities

• The authorities are encouraged to persevere with their ambitious structural reform agenda to:
  • Strengthen institutions.
  • Address governance weaknesses.
  • Build climate resilience.
  • Improve data quality.

Key subject areas and keywords

• Subject: Arrears, Central banks, Exchange rates, External debt, Foreign exchange, International reserves, Monetary base, Money, Public debt
• Keywords: address governance weakness, Arrears, Caribbean, Exchange rates, International reserves, Monetary base, Policy outlook, policy reform, reform agenda, Surinamese authorities

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