Suriname: Request for Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Suriname

June 7, 2016

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Format: Chicago

Suriname: Request for Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Suriname, (USA: International Monetary Fund, 2016) accessed September 19, 2024

Summary

This paper mainly discusses the IMF-supported program aimed at restoring macroeconomic stability and confidence in Suriname’s economy. The proposed 24-month Stand-By Arrangement (265 percent of quota, or SDR 342 million) aims to support Suriname’s adjustment to the fall in commodity export prices and restore external and fiscal sustainability. It foresees an improvement of the fiscal balance by 7.4 percent of GDP, which would reverse the rise in the government debt-to-GDP ratio; restore foreign reserves to adequate levels—four months of imports; and reflect a monetary policy stance calibrated to reduce inflation to single digits. It also strengthens the foundations for private-sector growth.

Subject: Bank deposits, Banking, Central banks, Currencies, Exchange rates, Foreign exchange, International reserves, Money, Public debt

Keywords: Caribbean, CR, Currencies, Exchange rate system, Exchange rates, Foreign currency, Foreign exchange bureau, Government, Government of the People's Republic of China, Government transaction, International reserves, ISCR, Reform, Staff assessment, Suriname's transition

Publication Details

Pages:

114
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/141
Stock No:

1SUREA2016001
ISBN:

9781484377031
ISSN:

1934-7685

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