IMF Approves Of New Funding For Suriname

• Suriname is set to receive US$53Mn from the International Monetary Fund (IMF) following the completion of the fourth review under the Extended Fund Facility (EFF) arrangement, totalling an estimated US$263Mn.
• The IMF executive board approved Suriname's request for an augmentation of access (US$63Mn) and an extension of the EFF arrangement until end-March 2025, bringing the total expected access under the arrangement to about US$577Mn.
• Suriname is implementing an ambitious economic reform agenda focusing on fiscal and debt sustainability, social protection, monetary and exchange rate policy upgrades, financial sector resilience, and anti-corruption measures.
• IMF Deputy Managing Director Kenji Okamura commended Suriname for its commitment to fiscal discipline and macroeconomic stabilization, noting positive trends such as a stabilising economy, eased exchange rate pressures, and a downward trend in inflation. Swift implementation of reforms, debt restructuring, and continued efforts to address vulnerabilities are needed for sustained progress.

(Source: Reuters)