Suriname: Staff Report for the 2012 Article IV Consultation
October 3, 2012
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The economy continues to recover at a steady pace, buoyed by strong activity in the oil and gold sectors, as well as public investment. In the wake of the January 2011 devaluation and concurrent increase in taxes, the fiscal balance shifted from a deficit of 3 percent of GDP in 2010 to a surplus of 1 percent in 2011. The balance of payment also strengthened significantly, boosting reserves to nearly US$1 billion (5¼ months of imports) at end-2011. With still-tight monetary conditions, 12-month inflation dropped to 3.6 percent in May 2012, from a peak of over 22 percent in April 2011.
Subject: Commodities, Currency markets, Economic sectors, Financial markets, National accounts, Oil, Public debt, Public sector
Keywords: Caribbean, CR, Currency markets, foreign currency, Global, government, inflation, inflation pressure, ISCR, liability positions vis-à-vis nonresident, Oil, Public sector, Suriname authorities, Surinamese authorities, wage-inflation spiral
Pages:
55
Volume:
2012
DOI:
Issue:
281
Series:
Country Report No. 2012/281
Stock No:
1SUREA2012001
ISBN:
9781475511444
ISSN:
1934-7685
