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Western Hemisphere > Suriname

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Cover IMF Staff Country Reports
Suriname: Technical Assistance Report on Government Finance Statistics Mission-(October 10–21, 2022)
International Monetary Fund. Statistics Dept.
This technical assistance (TA) mission on Government Finance Statistics was conducted during October 10 - 21, 2022. The main purpose of the mission was to review the progress made by the authorities in implementing previous TA recommendations and provide further support to improve fiscal data compilation and dissemination in line with international standards set out in the Government Finance Statistics Manual 2014.
Cover IMF Staff Country Reports
Suriname: Technical Assistance Report-Medium-Term Macro-Fiscal Forecasting
International Monetary Fund. Western Hemisphere Dept.
This TA report summarizes the context, mission findings, and way forward for CARTAC’s provision of TA support to Suriname’s Economic Affairs Department (within the Ministry of Finance and Planning). A new medium-term macro-fiscal forecasting framework (MTFF) will be developed via several TA missions, and will focus on linking high-level revenue and expenditure projections to projections of macroeconomic determinants. In addition, a clear and transparent method of entering the effect of policy changes on these projections, and the contribution of any ‘one-off’ factors to projected revenues or expenditures, will be a key feature of the tool. Finally, training, through hands-on exercises using Surinamese data, will play an important role in supporting the development and ultimate adoption of the MTFF.
Keywords:
EAD staff; staff time; Suriname debt management office; EAD forecast; MFP staff; Macroeconomic and fiscal forecasts; Revenue forecasting; Caribbean
Cover IMF Staff Country Reports
Suriname: Technical Assistance Report on Government Finance Statistics Mission (April 19-May 6, 2022)
International Monetary Fund. Statistics Dept.
This technical assistance (TA) mission on Government Finance Statistics was conducted during April 19– May 6, 2022. The main purpose of the mission was to review the progress made by the authorities in implementing previous TA recommendations and provide further support to improve fiscal data compilation and dissemination in line with international standards set out in the Government Finance Statistics Manual 2014.
Keywords:
IMF's Statistics Department; Suriname debt management office; staff team of the International Monetary Fund; debt data; World Bank staff; Government finance statistics; Stocks; External sector statistics; Data processing; Western Hemisphere
Cover IMF Working Papers
Waiting for Godot? The Case for Climate Change Adaptation and Mitigation in Small Island States
Mr. Serhan Cevik
Global warming is the most significant threat to ecosystems and people’s health and living standards, especially in small island states in the Caribbean and elsewhere. This paper contributes to the debate by analyzing different options to scale up climate change mitigation and adaptation. In particular, the empirical analysis indicates that increasing energy efficiency and reducing the use of fossil fuel in electricity generation could lead to a significant reduction in carbon emissions, while investing in physical and financial resilience would yield long-run benefits. From a risk-reward perspective, the advantages of reducing the risks associated with climate change and the health benefits from higher environmental quality clearly outweigh the potential cost of climate change mitigation and adaptation in the short run. The additional revenue generated by environmental taxes could be used to compensate the most vulnerable households, building a multilayered safety net, and strengthening structural resilience.
Keywords:
Climate change; decarbanization; energy efficiency; mitigation; adaptation; carbon tax; green financing; climate change mitigation; risk-reward perspective; Island state; adaptation strategy; climate change adaptation; Greenhouse gas emissions; Natural disasters; Caribbean; Global
Cover IMF Staff Country Reports
Suriname: Technical Assistance Report on Government Finance Statistics Mission (December 6-17, 2021)
International Monetary Fund. Statistics Dept.
At the request of the Suriname authorities, a remote technical assistance (TA) mission took place during December 6–17, 2021. The mission was conducted in coordination with the IMF’s Western Hemisphere Department. The main objective of the mission was to assist the Ministry of Finance and Planning (MFP) and the Central Bank of Suriname (CBS) to improve the quality of the Government Finance Statistics (GFS) in view of the IMF program. The main tasks were to (i) conduct a diagnostic assessment of the current GFS and public debt compilation process,(ii) explain and reduce statistical discrepancies, (iii) analyze data on arrears and reassess their treatment in GFS, (iv) review the integration of stocks and flows of the gross debt; and (v) update the public sector institutional table, and (vi) deliver a workshop on GFSM 2014 framework and (PSDS).
Keywords:
IMF's Statistics Department; Suriname debt management office; staff team of the International Monetary Fund; government finance Statistics mission; CBS accounting report; Government finance statistics; Stocks; Fiscal accounting and reporting
Cover IMF Staff Country Reports
Suriname: Technical Assistance Report-External Sector Statistics
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.
Keywords:
IMF's Statistics Department; goods account; customs data; balance of payments manual; Statistics Department of the IMF; External sector statistics; Balance of payments statistics; International investment position; Imports; Caribbean
Cover IMF Staff Country Reports
Suriname: First Review under the Extended Arrangement under the Extended Fund Facility, and Financing Assurances Review-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Suriname
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.
Keywords:
staff appraisal; staff representative; Surinamese authorities; RMT regime; rising prices; Arrears; Monetary base; Exchange rates; Caribbean; Global