Suriname: Staff Report for the 2012 Article IV Consultation
IMF Staff Country Reports, October 3, 2012
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- Suriname: Staff Report for the 2012 Article IV Consultation
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Bibliographic details
- Published: October 3, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475511444.002
Overview
- The economy continues to recover at a steady pace, buoyed by strong activity in the oil and gold sectors, as well as public investment.
- Key policy actions noted: the January 2011 devaluation and a concurrent increase in taxes.
- Monetary stance described as "still-tight monetary conditions."
Fiscal and external sector developments
- Fiscal balance shifted from a deficit of 3 percent of GDP in 2010 to a surplus of 1 percent in 2011.
- The balance of payments strengthened significantly.
- Reserves were boosted to nearly US$1 billion (5¼ months of imports) at end-2011.
Inflation and monetary conditions
- 12-month inflation dropped to 3.6 percent in May 2012, from a peak of over 22 percent in April 2011.
- The decline in inflation occurred alongside continued tight monetary conditions.
Key statistics (reported in the text)
- Deficit in 2010: 3 percent of GDP
- Surplus in 2011: 1 percent (of GDP)
- Reserves at end-2011: nearly US$1 billion
- Import coverage: 5¼ months of imports (end-2011)
- 12-month inflation: 3.6 percent (May 2012)
- Peak 12-month inflation: over 22 percent (April 2011)
Source: Suriname: Staff Report for the 2012 Article IV Consultation, October 3, 2012.
Content in this bundle
- Suriname: 2012 Article IV consultation; IMF Country Report 12/281; July 13, 2012