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International Monetary Fund. Statistics Dept.
A technical assistance (TA) mission on external sector statistics (ESS) was conducted in Paramaribo, Suriname, during March 2‒13, 2020. The mission was part of the Caribbean Regional Technical Assistance Centre (CARTAC) work program on ESS and was carried out in response to a request from the Central Bank of Suriname (CBvS). The mission reviewed estimates and coverage of the balance of payments and international investment position (IIP), which have been prepared in the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) format. In particular, the mission’s work mainly aimed at enhancing the coverage and the classification of (i) currency and deposits assets held abroad by the nonfinancial sector; (ii) insurance services, transport, travel account and trade credit and advances; (iii) offshore petroleum exploration companies; (iv) government external debt; and (iv) the use of business survey. Improvements in these key areas will facilitate a more robust assessment of external sector developments. Reliable ESS is essential for informed economic policy-making by the authorities and for IMF’s surveillance.
International Monetary Fund. Statistics Dept.

A technical assistance (TA) mission on external sector statistics (ESS) was conducted in Paramaribo, Suriname, during March 2‒13, 2020. The mission was part of the Caribbean Regional Technical Assistance Centre (CARTAC) work program on ESS and was carried out in response to a request from the Central Bank of Suriname (CBvS). The mission reviewed estimates and coverage of the balance of payments and international investment position (IIP), which have been prepared in the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) format. In particular, the mission’s work mainly aimed at enhancing the coverage and the classification of (i) currency and deposits assets held abroad by the nonfinancial sector; (ii) insurance services, transport, travel account and trade credit and advances; (iii) offshore petroleum exploration companies; (iv) government external debt; and (iv) the use of business survey. Improvements in these key areas will facilitate a more robust assessment of external sector developments. Reliable ESS is essential for informed economic policy-making by the authorities and for IMF’s surveillance.

International Monetary Fund. Western Hemisphere Dept.
On December 22, 2021, the IMF Executive Board approved a 36-month arrangement under the Extended Fund Facility (EFF) with access of 366.8 percent of quota (SDR 472.8 million or USD 673 million). The Surinamese authorities’ homegrown economic recovery plan aims to address systemic fiscal and external imbalances and chart a course toward debt sustainability, declining inflation, and economic recovery while maintaining social stability. In the first few months of the program, the authorities have made good progress but important risks remain.
International Monetary Fund. Western Hemisphere Dept.

On behalf of our Surinamese authorities, we thank staff for the constructive virtual meetings and continuous policy dialogue during this review cycle. The authorities broadly agree with the staff’s findings and recommendations. Following the approval of the Extended Fund Facility (EFF) on December 22, 2021, the Government of Suriname (GoS) has continued to implement key adjustment measures and reforms agreed in the program, in line with its strong commitment to restore macroeconomic stability and debt sustainability and creating the conditions for resuming a strong and inclusive growth path. Despite the drag from capacity constraints, we underscore the significant number of legislative and institutional reforms initiated in the first review cycle, in which all targets were met, although some with delay.