Suriname 

Suriname country policy

Policy established 02 February 2009

• The country ceiling is 30 mln euro
• Early warning signal 30 mln euro
• Private buyers: SIF facility

Country class: 7

Suriname country facts

Atradius Dutch State Business Economic Research
Country Report last updated 21 February 2012
Country :  SURINAME  

Political Situation

Controversial President

Head of state
President Desiré Bouterse.

Form of government
A coalition of MEGA Combinatie (headed by Bouterse’s NDP), the A-Combinatie and the Volksalliantie.

Internal Economic Situation
Vulnerable

General situation
Moderate economic growth based on increased mineral output and high prices (bauxite, gold, oil), public sector construction and the informal sector boosting private consumption. Risen oil and food prices have propelled inflation to 20% in 2010 and a figure of 15% is expected for this year. Bureaucracy, weak investor protection and poor contractual enforcement are clouding Suriname’s business climate. The economy continues to be highly dollarised and the banking sector weak by international standards. 

External Economic Situation
Balanced Current Account

Main sources of foreign exchange
Minerals (gold, bauxite, oil, nickel, silver), remittances from the Netherlands.

Main foreign markets
Canada (24%), EU (21%), Norway (20%), USA (9%).

Main expenses of foreign exchange
Capital goods, consumer goods.

 
Balance of payments 
Risen export revenues (more output, high prices for alumina, gold and oil) and more FDI have benefited Suriname’s external position, leading to balance of payments-surpluses and an accumulation of reserves. In Jan 2011 the exchange rate of the SRD (2.75 per US$) was brought into line with the free market exchange rate (3.30 per US$), de facto a devaluation.