Western Hemisphere > Suriname
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This SIP aims to calibrate the two proposed fiscal rules in Suriname’s PFM legislature consistent with the country’s developmental and fiscal sustainability goals while taking into account an intergenerational distribution of the country's natural resource wealth.
This SIP serves broadly two goals. First, it takes a stock of the current Reserve Money Targeting monetary policy regime and second, given the Final Investment Decision (FID), proposes a way forward for updating the monetary policy regime.
On behalf of the Surinamese authorities, we thank staff for the constructive and frank discussions during the eighth review of the Extended Fund Facility (EFF) arrangement and 2024 Article IV Consultations. Our authorities largely agree with staff's perspective on Suriname's economic performance and outlook under the EFF program. Furthermore, the authorities welcome the resumption of the Article IV Consultation after a five-year hiatus.
1. Suriname faces a buoyant medium-term outlook. With the FID announcement in October, investment will soon start in the new offshore field (Block 58) and oil production is expected to begin in 2028 (Box 2). Total Energies and its partners are expected to invest about USD10.5 billion during 2025-28 with a local content component of about USD1 billion. This future oil wealth has the potential to significantly improve living standards for the Surinamese people. However, achieving that outcome will require investing in institutions that ensure this new wealth is managed well, with high levels of transparency and accountability.1
This SIP has three main objectives. First, it assesses the current gender inequality in opportunities and outcomes in Suriname. Second, it highlights the economic benefits of reducing gender inequality and removing barriers to women’s economic empowerment. Third, it identifies potential policy areas where action is needed.
SURINAME