President Chandrikapersad Santokhi of Suriname has requested assistance from the Netherlands in re-negotiations with the International Monetary Fund (IMF).
Santokhi on Monday met with visiting Dutch Prime Minister Mark Rutte, who is wrapping up a two-day official visit to the Dutch-speaking Caribbean Community (CARICOM) country.
Santokhi is due to leave on Wednesday for the United States where he is expected to hold talks with the IMF as well as address the United Nations General Assembly (UNGA).
Speaking at a news conference following the bilateral talks, Santokhi noted that the Netherlands has a seat on the IMF’s Executive Board, and Suriname wants to renegotiate its existing program in response to the new global economic reality and its effects on the Surinamese economy.
In May this year, an IMF delegation said it had reached a staff-level agreement on the second review of the Extended Fund Facility (EFF).
It said Suriname’s economic program remains on track albeit with delays in some policy reforms and the economy continues to recover from the deep recession in 2020-21 even as it faces a range of near-term challenges, including those newly created by the war in Ukraine.
“The government’s near-term policies focus is on how best to mitigate the impact of the global commodity price shock on the economy and, especially, on vulnerable households. The government remains committed to reducing vulnerabilities and improving the country’s fiscal and external balances,” the IMF said then.
“Talks are already underway at the technical level with the IMF. Negotiations will also be held at the government level shortly. These should lead to a balanced and updated program that will be submitted to the Executive Board for approval,” President Chandrikapersad Santokhi said.
The state-owned Suriname Communications Service (SCS) reporting on the bilateral discussions, said on the issue of climate change, Santokhi informed the Dutch prime minister that his country, Suriname, is one of the few CO2-negative countries in the world that remains committed to maintaining its 93 percent forest cover, despite the country’s low-lying coastal area being one of the most vulnerable.
Suriname believes that appropriate compensation means and mechanisms must be created for this deployment.
“In this context, I express the hope that the world and your government will recognize our efforts and provide the necessary support,” Santokhi said.
SCS reported that President Santokhi emphasized during the bilateral meeting that the visit of the Dutch prime minister will undoubtedly give a further boost to the dynamic relationship between Suriname and the Netherlands.
CMC/
