Suriname's economic development

Scott MacDonald

Chapter 28 in The Elgar Companion to the Economies of Latin America and the Caribbean, 2025, pp 568-582 from Edward Elgar Publishing

Abstract: Suriname is one of the smallest countries in Latin America and the Caribbean and the only former Dutch colony in South America. Although the country's population is under one million people, in the 2020s it has gained international attention due to the discovery of large offshore reserves of oil. Despite the global transition from fossil fuels to renewables, the potential oil boom raises many questions for the country. These include a history of commodity trade dependence, a complicated ethnic mix, longstanding governance challenges, and the need to balance the interests of hegemonic states with Suriname's own national interests. The country has considerable potential, efforts are being made to address governance problems, and a younger generation is seeking to carve out a larger role in their country's political and socioeconomic life with an eye to less corruption and greater accountability. That said, considerable work is required, which will take the country well into the 2030s, a period that will also see a greater emphasis on tackling climate change and energy transition.

Keywords: Bauxite; Bouterse; Oil; Gold; Governance; Staatsolie (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035317196
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