Suriname: Ninth Review Under the Extended Arrangement Under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Suriname

This paper presents Suriname’s Ninth Review Under the Extended Arrangement under the Extended Fund Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review. The objectives of the program have been broadly achieved. The economy is growing, inflation is receding, public debt is declining, the autonomy and governance of the central bank have been strengthened, and investor confidence is returning. The main near-term policy priority is to maintain fiscal discipline in the run-up to the elections while protecting the vulnerable. Building on the progress made under the program, the authorities should strengthen the fiscal framework, including through the operationalization of the recently enacted fiscal rules supported by the appropriate institutional mechanisms. The implementation of these critical reforms will enable Suriname to efficiently and transparently manage its newly found oil resources. The authorities should persevere with their ambitious structural reform agenda to strengthen institutions, address governance weaknesses, build climate resilience, improve data quality and address gender gaps.