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Suriname Signs US$ 170 Million Loans with IDB, Ensures IMF Alignment

Finance Minister Raghoebarsing Emphasizes Prudent Borrowing Practices

Suriname Signs US$ 170 Million Loans with IDB, Ensures IMF Alignment

This week, Suriname signed two loan agreements with the Inter-American Development Bank (IDB) for a total amount of US$ 170 million. Minister Stanley Raghoebarsing of Finance & Planning states that the loans are thoroughly discussed in advance with the International Monetary Fund (IMF) and align with the trajectory of the IMF program.

IDB representative for Suriname, Adriana La Valley, notes that Suriname is on the right track. She mentions that the IDB supports the country with financial resources and programs to facilitate better decision-making. One of the loans involves an amount of US$ 150 million to support reforms in government management and transparency. The IDB has allocated US$ 20 million for the ninth population and housing census in 2024. The IDB official states that the support to Suriname also aims to achieve macroeconomic stability, emphasizing a strong partnership between the IDB and Suriname.

The minister acknowledges concerns about the government taking on too many loans, stating, “Suriname is not being overloaded with loans.” The loans are in good accordance with the IMF and fall within the framework discussed with the IMF. Before entering into loan agreements with the IDB, they are thoroughly discussed with the IMF, keeping them informed and jointly calculating the implications. Minister Raghoebarsing emphasizes that loans are not taken recklessly to spend on salaries or luxury. He adds, “The crucial aspect is to spend loans wisely and invest in the development of sectors.”

Source: https://www.starnieuws.com/index.php/welcome/index/nieuwsitem/78889

Date: 14 December 2023

Categories:  Economic Crisis, National Debt, Suriname 

Tags:  Macroeconomic Stability 

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