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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
Author:
International Monetary Fund. Western Hemisphere Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2021: Issue 280
Language:
English
Publication Date:
23 Dec 2021
DOI:
https://doi.org/10.5089/9781616359799.002
ISBN:
9781616359799
ISSN:
1934-7685
Pages:
111
Keywords:
staff appraisal; staff representative; Surinamese authorities; government of Suriname; term deposit; Exchange rates; Arrears; Monetary base; Caribbean; Global
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Suriname faces systemic fiscal and external imbalances as a result of many years of economic mismanagement. Usable foreign reserves were depleted and, in the absence of other sources of budget financing, fiscal deficits were monetized. Inflation has, as a result, surged and there has been a significant depreciation of the exchange rate. Public debt, at 148 percent of GDP at end-2020, is unsustainable. In addition, there are important solvency problems embedded in the domestic banking system.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund