Suriname’s Economic Recovery Program Ending in March 2024
Finance and Planning Minister Stanley Raghoebarsing and Anastasia Guscina, head of the delegation of the IMF mission, during the news conference.
PARAMARIBO, Suriname, CMC – Finance and Planning Minister Stanley Raghoebarsing says Suriname’s economic recovery program supported by the International Monetary Fund (IMF) ends in March next year and that “there will be no new measures.
“All policy measures have already been taken. It is now mainly about enforcing those policy measures,” Raghoebarsing told reporters, adding that the government must ensure that they are implemented as agreed with the IMF.
Raghoebarsing said that between now and March next year, he sees no issues that could prevent a successful conclusion of the program and is looking forward “to the end of the program with excellent feelings.”
Key Takeaways
- Suriname’s economic recovery program ends in March 2024.
- No new measures will be implemented.
- The government must ensure that policy measures are enforced as agreed with the IMF.
- The program has been successful in stabilizing the economy and reducing inflation.
Challenges Ahead
Raghoebarsing highlighted the need for the government to ensure that the energy companies, EBS, transfer their extra income to the government. He noted that there are still some bumps in the road with the EBS transfers and that a problem needs to be investigated in their income and expenditure cash flow.
IMF Program
The IMF has recently carried out the regular Article IV mission, and Raghoebarsing said he hopes that the eighth review will also be concluded successfully with the approval of the IMF board, which will decide in December. The IMF has praised Suriname’s commitment to maintaining prudent macroeconomic policies and implementing difficult reforms, which have yielded positive results.
Final Evaluation and Termination
The final evaluation will occur in February next year, after which the program will be terminated. Raghoebarsing believes that Suriname is now “stable but not yet ready to go to a dance on Saturday night.”
Conclusion
Suriname’s economic recovery program has been a success, and the government is looking forward to a stable future. However, there are still challenges ahead, and the government must ensure that policy measures are enforced and that the EBS transfers are smooth. The IMF program has been a necessary step in stabilizing the economy, and Suriname is now on the path to recovery.
FAQs
- What is the end date of Suriname’s economic recovery program?
- March 2024
- Will there be new measures implemented after the program ends?
- No
- What is the main challenge ahead for the government?
- Ensuring that the energy companies, EBS, transfer their extra income to the government
- What is the outcome of the IMF program?
- Successful in stabilizing the economy and reducing inflation
About The Author
