THE HAGUE, Netherlands, Suriname has signed a bilateral agreement on debt rescheduling under the Paris Club agreement regarding the Euro 23.9 million (One Euro=US$1.29 cent) debt to the ING Bank that had been agreed upon in 2014 with the Dutch government providing a state guarantee.
The loan was used for the construction of the Carolina Bridge that crosses the Suriname River near the village of Redi Dati, south of the capital city of Paramaribo.
At the end of December 31, 2021, the debt amounted to approximately Euro 13 million, and when rescheduling the debt, it was agreed that 60 percent of the arrears would be paid in November 2022 and the remaining 40 percent in November 2024.
Acting Finance and Planning Minister Albert Ramdin signed the agreement with the Dutch State Secretary, Marnix van Rij.
This is the second bilateral agreement signed after the agreement reached between the Paris Club and the State of Suriname on June 22, 2022.
Within the Paris Club, bilateral debt restructuring has been discussed with France, the Netherlands, Israel, Italy, and Sweden, worth more than US$ 5 million. On October 12, the first agreement was signed with France on debt rescheduling of the loans with the Agence Française de Development.
Under the agreement, the total debt payment, including interest for the period 2022-2024, will be repaid between 2030 and 2036 at a fixed interest rate for the Euribor (Euro Interbank Offered Rate) for six months of 0.291 percent during this period.
Ramdin and van Rij also discussed the existing cooperation between the two countries in the fields of taxation.
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