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Western Hemisphere > Suriname

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Cover IMF Staff Country Reports
Suriname: Technical Assistance Report-National Accounts Statistics Mission
International Monetary Fund. Statistics Dept.
This Technical Assistance Report discusses measures required to improve the national accounts of Suriname, including consistency with the System of National Accounts 2008. The General Bureau of Statistics (GBS) is expected to implement the recommendations of the IMF mission progressively over a five-year period. Given the staff time wasted on data entry and potential transcription errors, the GBS should give high priority to requesting the Ministry of Finance to provide the Government accounts data in Excel format for 2015 onward. With the support of the Finance Minister, the GBS also needs to implement a formal agreement with the Tax Department to share tax registration data, company income tax returns and sales tax returns.
Keywords:
ISCR; CR; estimate; GDP; center; price index; KPV estimate; GDP-p estimate; GDP estimate; SUT estimate; CPV estimate; GDP-e estimate; current price; BM estimate; GDP-P estimate; Consumer price indexes; Data collection; Price indexes; Caribbean
Cover IMF Staff Country Reports
Suriname: Staff Report for the 2012 Article IV Consultation
International Monetary Fund. Western Hemisphere Dept.
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.
Keywords:
ISCR; CR; foreign currency; government; inflation; inflation pressure; Surinamese authorities; Suriname authorities; wage-inflation spiral; liability positions vis-à-vis nonresident; Public sector; Oil; Currency markets; Caribbean; Global
Cover IMF Staff Country Reports
Suriname: 2011 Article IV Consultation-Staff Report, Informational Annex, Public Information Notice on the Executive Board Discussion and Statement by the Executive Director for Suriname
International Monetary Fund
In this paper, the economic growth of Suriname is discussed. The fiscal deficit shifted from 2.2 percent to 3.3 percent of GDP during 2009–10. In 2010, CLICO-Suriname was acquired by a local insurance company. The need to rein in current expenditure and avoid development of wage–price inflation and strengthen the social support programs are stressed by the authorities. The introduction of VAT and other systems are discussed. Finally, improvement over the business environment to facilitate the development of the private sector and global economy was encouraged.
Keywords:
ISCR; CR; consultation informational annex; consultation; Surinamese authorities; government; authority; credit growth; awareness of the need; dollarization ratio; Commercial banks; Credit; Gold; South America
Cover Departmental Papers
Suriname: Toward Stability and Growth
Mr. Masahiro Nozaki
,
Mr. Tobias Roy
,
Mr. Pawel Dyczewski
,
Mr. Bernhard Fritz-Krockow
,
Ms. Fanny M Torres Gavela
,
Mr. Gamal Z El-Masry
, and
Mr. Rafael A Portillo
This paper analyzes the economic growth and stability in Suriname. The paper highlights that in recent years, the outlook has turned substantively more positive. The favorable external environment and the stability-oriented policies of the Venetian administration have boosted confidence in the economy, leading to increased investment, domestic economic activity, and employment. The recent boom in commodity prices has helped boost growth, while increased gold production and investment in the mineral industry are projected to support continued growth in the coming years.
Keywords:
DPPP; DP; government; Suriname; exchange rate; company; foreign currency; central bank; U.S. dollar; monetary policy; interest rate; Exchange rates; Currencies; Inflation; Bank deposits; Gold; Caribbean; Global; South America; Western Hemisphere; Africa
Cover IMF Staff Country Reports
Suriname: Selected Issues
International Monetary Fund
This Selected Issues paper describes the revenue instability and its consequences for Suriname. It explores some options for policy rules that could be considered in the case of Suriname. The paper analyzes inflation in Suriname from its historical and international perspectives, reviews the monetary policy instruments and the institutional framework, and describes the exchange rate regime and its main developments. The paper also analyzes the type of macroeconomic shocks and the domestic transmission mechanism for Suriname.
Keywords:
ISCR; CR; foreign currency; Suriname; gold mining; rice; ACP country; foreign currency deposit; exchange rate depreciation; monetary policy response; EU market; banking transaction; gold mining operation; revenue stabilization funds; Agricultural commodities; Mining sector; Bank deposits; Gold; Dollarization; Western Hemisphere; Caribbean; South America; Middle East; Central America; Africa
Cover IMF Staff Country Reports
Suriname: Statistical Annex
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; Suriname; fund staff estimate; Suriname guilder; central bank of Suriname; unit price; primary sector; factor cost; Credit; Agricultural commodities; Agroindustries; Commercial banks