Suriname: Request for an Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Suriname
This paper discusses Suriname’s Request for an Extended Arrangement Under the Extended Fund Facility. The IMF financial arrangement will support Suriname’s authorities’ homegrown economic plan aiming to restore fiscal sustainability, while protecting the vulnerable by expanding social safety net programs. It will also help bring public debt down to sustainable levels, upgrade the monetary and exchange rate policy framework, stabilize the financial system, and strengthen institutional capacity to tackle corruption and money laundering and improve governance. The main objectives of the authorities’ program are to restore macroeconomic stability and confidence, and to pave the way to economic recovery, while protecting the most vulnerable during the process of adjustment. The fiscal reforms designed by the authorities include eliminating costly and poorly targeted electricity price subsidies and introducing a value added tax, creating an efficient source of nonmineral revenue. Implementing the structural reform agenda is essential to ensure a more prosperous future for Suriname. The reforms will improve the institutional capacity for macroeconomic policies, maintain financial sector stability, tackle corruption, and strengthen anti-money laundering and countering the financing of terrorism and governance.
IMF Staff Country Reports

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