Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Western Hemisphere > Suriname

You are looking at 1 - 10 of 27 items for :

  • Type: Journal Issue x
  • Financial Economics x
Clear All Modify Search
Cover High-Level Summary Technical Assistance Reports
Suriname: Financial Stability Report
Petr Jakubik
This High-Level Summary technical assistance report presents mission’s summary and recommendations of financial stability report (FSR). The technical assistance aimed to enhance the FSR of the Central Bank of Suriname. The mission concluded that the preparation of detailed FSR production plan and communication strategy are critical and could facilitate improvements, promote the report, and bring some synergies between different teams involved. The report should reflect on all-important elements of financial stability assessment and needs to be streamlined to follow the central story with the key messages. The quality of the report could be further improved by advancements in the employed analytical toolkit and utilization of all available data sources. In the meantime, the existing data gaps could be covered by different surveys with the industry. Finally, the CBS should initiate a discussion on software/tools that would be used for processing big data in the Bank.
Keywords:
financial stability; financial stability report; systemic risk; analytical toolkit
Cover IMF Staff Country Reports
Suriname: Technical Assistance Report—Financial Stability Report
International Monetary Fund. Monetary and Capital Markets Department
This Technical Assistance Report on Suriname discusses summary and recommendations of financial stability report (FSR). The mission focused on enhancing the FSR of the Central Bank of Suriname (CBS) whose publication has recently resumed. The mission provided several recommendations to the CBS. This covered the content and structure of the FSR and its related FSR processes, CBS’s internal and external communication, additional headcount for the Financial Stability Department, developing the financial stability analytical toolkit, coverage of the non-banking sector, and the use of data sources and statistics. The preparation of a detailed FSR production plan is critical and could facilitate improvements and bring some synergies between different teams involved in its production. This needs to include different steps and set up a firm date of publication. The CBS should further continue working toward enhancing the financial stability analytical toolkit. The mission also identified that more in-depth analysis of the insurance and pension sector is needed. The bank-like activities undertaken by non-banks should be fully assessed and monitored.
Keywords:
FSR production plan; semiannual FSR; FSR process; CBS management; FSR of the CBS; Financial sector stability; Financial stability assessment; Stress testing; Financial sector risk; Credit risk; Caribbean
Cover IMF Staff Country Reports
Suriname: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Rephasing and Reduction of Access, Waivers of nonobservance of Performance Criteria and Financing Assurances Review-Press Release; Staff Report; Staff Supplement; Staff Statement; and Statement by the Executive Director for Suriname
International Monetary Fund. Western Hemisphere Dept.
This paper presents Suriname’s Review under the Extended Arrangement under the Extended Fund Facility, Requests for Rephasing and Reduction of Access, Waivers of Nonobservance of Performance Criteria (PC), and Financing Assurances Review. The authorities have made concerted efforts to bring their economic recovery program back on track and stabilize the economy, foremost by restoring fiscal discipline, while expanding social assistance programs to protect the poor. They have also reached important milestones in debt restructuring negotiations, which, alongside fiscal consolidation, will support Suriname’s efforts to restore debt sustainability. The end-December 2022 quantitative performance criteria on the cumulative central government primary balance and net domestic assets were missed. Two continuous PCs and one standard continuous PC were also breached. Progress on implementing the structural agenda has moved ahead but with delays. The authorities are continuing to make progress with their structural reform agenda. Structural reforms to strengthen institutions, governance, and data quality remain key priorities with continued capacity building support by IMF and Suriname’s other development partners.
Keywords:
roadmap triage; staff appraisal; governance reform of bank; government FX sale; sales transaction; Exchange rates; Multiple currency practices; Arrears; Caribbean; Global
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 report on Suriname highlights proceedings of the Government Finance Statistics (GFS) mission. The authorities have partially followed the recommendations from previous mission that took place in April 2022. While there has been significant progress in below-the-line data, little progress has been made in above-the-line data. Compilers from the Statistics Department of the Central Bank of Suriname have compiled a financial balance sheet of the Central Government (CG) to assure the integration of flows with the stocks of financial assets and liabilities. In addition, they perform regular consistency checks of data on the CG deposits and loans with the recordings in the banking system. No developments have been achieved regarding the institutional sector coverage and little progress has been done regarding the above-the-line data compilation. One of the main issues that hamper GFS data quality is that no comprehensive data on the government revenues and expenditure exist in Suriname. The mission provided an extended hands-on training for the main GFS team compiling above-the-line transactions.
Keywords:
government finance Statistics mission; IMF's Statistics department; Suriname debt management office; staff team of the International Monetary Fund; GFS compiler; Government finance statistics; Fiscal accounting and reporting; Commercial banks; Stocks
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 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: 2019 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Suriname
International Monetary Fund. Western Hemisphere Dept.
This 2019 Article IV Consultation with Suriname discusses that Suriname continues to grow steadily with low inflation. However, there has been little progress in implementing urgently needed fiscal reforms, and the fiscal position is likely to continue to weaken in the coming year. The consultation focused on policies to bolster the economy in the medium term. These include fiscal measures to enhance revenues and efficiency and lower expenditures, policies to improve the monetary and financial sector supervision frameworks, and structural policies to boost potential growth. Advances have been made in developing the central bank’s monetary tools and facilities; however, more is needed to strengthen the credibility of the monetary framework. The banking sector faces important downside risks and there are gaps in the central bank’s supervisory and resolution framework. It is advised to put the public debt on a sustainable path. A significant reduction in the fiscal deficit could be achieved by implementing a value-added tax, curtailing electricity subsidies except to the poor, and improving public financial management.
Keywords:
ISCR; CR; CBvS; central bank; GDP; Suriname; Surinamese economy; supervision framework; foreign exchange; Suriname's economy; electricity sector subsidy; law amendment; paternity support; fiscal policy framework; CFT regime; Monetary base; International reserves; Currencies; Anti-money laundering and combating the financing of terrorism (AML/CFT); Caribbean; IMF's transparency policy; CPI data; External sector statistics
Cover IMF Staff Country Reports
Suriname: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Suriname
International Monetary Fund. Western Hemisphere Dept.
Suriname is recovering from the deep recession of 2015-16. Growth has turned positive, inflation has reduced to single digits, real interest rates have turned positive, and the external position has on balance strengthened. Nonetheless, the economy remains heavily dependent on the mineral sector, and faces fiscal, monetary, and banking sector vulnerabilities.
Keywords:
ISCR; CR; Suriname; IMF staff calculation; GDP; holding; Suriname's economy; monetary policy operation; government mining revenue; underdeveloped monetary policy framework; financial asset; monetary policy; Fiscal stance; Exchange rates; Monetary base; Caribbean; Europe; Asia and Pacific
Cover IMF Staff Country Reports
Suriname: Request for Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Suriname
International Monetary Fund. Western Hemisphere Dept.
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.
Keywords:
ISCR; CR; government; government transaction; foreign currency; reform; staff assessment; government of the People's Republic of China; exchange rate system; Suriname's transition; foreign exchange bureau; International reserves; Exchange rates; Currencies; Caribbean
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