Suriname successfully restructures US$100 million debt
/ Our Today
administratorDebt review consists of a lower interest rate, extension of the term by approximately 10 years
Suriname has successfully negotiated the restructuring of approximately US$100 million in debt with The Netherlands, Italy, France, Sweden, and Israel.
This restructuring will mean that Suriname will have to pay a total of US$34 million less in interest and repayments over the next three years. This gives more breathing room to consolidate the recovery of the economy.
Led by Finance and Planning Minister Armand Achaibersing, the rescheduling proposal made to the Paris Club was accepted in full. The debt review consists of a lower interest rate, an extension of the term by approximately ten years, including a grace period of five years.
“This agreement is a special milestone and we warmly congratulate the people and government of Suriname on this success.”
Ding Ding, Suriname mission chief at the IMF
The members of the Paris Club have indicated that they have confidence in the new policy and therefore go along with the reshuffle. In addition to the Paris Club members, representatives of the International Monetary Fund (IMF), World Bank, Organisation for Economic Co-operation and Development, United Nations Conference on Trade and Development, Inter-American Development Bank (IDB), and the European Commission were also present at the negotiations.
Negotiations with the Oppenheimer bondholders, China and India are on the agenda in the coming weeks.
Commenting on the matter, Ding Ding, Suriname mission chief at the IMF, reported that, “this agreement is a special milestone and we warmly congratulate the people and government of Suriname on this success”.
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