Suriname: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Suriname

The 2025 Article IV Consultation discusses that Suriname is about to experience a significant oil boom. Macroeconomic stability has weakened as hard‑won gains have been eroded by an overly loose fiscal stance and insufficiently tight monetary policy in early 2025. These policies have fueled inflation, depreciated the currency, and weighed on growth, which is now projected to fall well below initial expectations despite record gold prices and weaker mining output. Although a recent liability‑management operation has eased financing pressures, restoring primary surpluses is critical for rebuilding cash buffers, placing public debt on a downward path, and strengthening confidence in the new government’s policy direction. Fiscal restraint will also reduce excess liquidity, ease pressure on the exchange rate, and support disinflation. Monetary policy must reinforce this effort by sterilizing liquidity injections and allowing interest rates to adjust freely. Strengthening public financial management is essential to ensure that the oil windfall is saved or used effectively. Complementary priorities include enhancing financial sector resilience, advancing anti‑corruption reforms, improving anti-money laundering frameworks, and preparing for a gradual transition toward inflation targeting.