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

International Monetary Fund

No 2021/280, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: staff appraisal; staff representative; Surinamese authorities; government of Suriname; term deposit; Exchange rates; Arrears; Monetary base; Caribbean; Global (search for similar items in EconPapers)
Pages: 111
Date: 2021-12-23
New Economics Papers: this item is included in nep-mac
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