Cover IMF Staff Country Reports
Suriname: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Suriname
Author: International Monetary Fund. Western Hemisphere Dept.
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2024: Issue 254
Language:
English
Publication Date:
31 Jul 2024
DOI:
https://doi.org/10.5089/9798400285738.002
ISBN:
9798400285738
ISSN:
1934-7685
Pages:
124
Keywords:
FX trading platform; address governance weakness; Policy outlook; Surinamese authorities; banking sector vulnerability; governance agenda; policy reform; State oil company; government T-bill exposure; Arrears; Energy subsidies; Domestic debt; Caribbean
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This paper presents Suriname’s Sixth Review under the Extended Arrangement under the Extended Fund Facility. The authorities’ strong policy and efforts to stabilize the economy are yielding positive results: the economy is growing, inflation is on a steady downward trend, and investor confidence is returning. Suriname is implementing an ambitious economic reform agenda aimed at restoring fiscal and debt sustainability through fiscal consolidation and debt restructuring, protecting the vulnerable by expanding social protection, upgrading the monetary and exchange rate policy framework, addressing banking sector vulnerabilities, and advancing the anti-corruption and governance agenda. Monetary policy is supporting disinflation. The authorities’ demonstrated commitment to flexible, market-determined exchange rate is supporting international reserves accumulation. Finalization of the central bank recapitalization plan will help further strengthen its operational independence and financial autonomy. Building on the progress made thus far under the program, continued efforts are needed to entrench fiscal discipline, while protecting the poor and vulnerable, and further strengthen institutions and address governance weaknesses.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund