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Western Hemisphere > Suriname

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Cover IMF Staff Country Reports
Suriname: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
2024 Selected Issues
Keywords:
C. labor market indicator; I. monetary policy framework; labor market outcome; Suriname mineral health; IMF's transparency policy; Gender inequality; Fiscal rules; Monetary policy frameworks; Women; Caribbean
Cover Technical Assistance Reports
Suriname: Technical Assistance Report-Strengthening the AML/CFT Legal Framework and Developing a Risk-based Approach to AML/CFT Supervision—Central Bank of Suriname
International Monetary Fund. Legal Dept.
The mission was undertaken in the context of a capacity development (CD) project that assisted the authorities to enact a new AML/CFT law in November 2022 and amend AML/CFT secondary legislation and related components of sectoral legislation. During the mission, staff discussed the authorities’ continued initiatives to strengthen the legal framework and the existing supervisory arrangements in place at the CBvS. Staff’s main work during the mission focused on reviewing further amendments made to the AML/CFT law (Wet ter Voorkoming en bestrijding van Money Laundering en Terrorisme Financiering (WMTF), and a directive developed by the CBvS (“Richtlijn AML/CFT”). Staff also proposed amendments to a newly developed AML/CFT supervision manual (“Handboek AML/CFT Toezicht”) and the set-up of an institutional money laundering/terrorism financing (ML/TF) risk matrix as key components of the CBvS’ AML/CFT supervisory framework.
Keywords:
Richtlijn AML; supervisory arrangement; supervisory framework; risk matrix; supervisory activity; Anti-money laundering and combating the financing of terrorism (AML/CFT)
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