PARAMARIBO, Suriname, CMC – China has cancelled approximately US$15.6 million in outstanding debt owed by Suriname between 2004 and 2013. In November of last year, Suriname signed a debt rescheduling agreement with China, stating that the first repayments to creditors would be made this year.
Suriname owes the Chinese state-owned Exim Bank an estimated US$476 million, of which US$140 million is in arrears, according to data from Suriname’s debt management office as of mid-2024.
Finance and Planning Minister Adelien Wijnerman and Chinese Ambassador Jin Li signed a protocol earlier this week regarding the cancellation of part of the debt owed by the Dutch-speaking Caribbean Community (CARICOM) countries.
Wijnerman said that the debt forgiveness has reduced the burden on Suriname’s total debt, creating more fiscal space for national development.
“No harmful deals or collateral arrangements were made in exchange for this debt forgiveness,” she said, with the Chinese diplomat saying that the agreement underscores the partnership between the two countries.
“You help each other, learn from each other, and sometimes you argue, but ultimately you’re stronger together. Let’s continue this collaboration positively and constructively,” Li said.
The Ministry of Foreign Affairs, International Trade, and Cooperation (BIS) stated that it has also signed a grant for economic and technical cooperation with Minister Melvin Bouva, noting that the US$14 million grant will directly contribute to priority development projects for the population.
“This collaboration strengthens our institutional capacity, promotes national development, and helps Suriname achieve economic resilience and self-reliance,” Bouva said, adding that among the projects to benefit will be the construction of affordable housing, the expansion of Johan Adolf Pengel Airport, improvements to road safety, the development of a bus station at Anton de Kom University, and water supply projects in the interior.
“Suriname and China will continue to build together to broaden cooperation, deepen trust, and build a future of shared prosperity,” Bouva said, noting that the signing of the two agreements marks a further deepening of the historic friendship and cooperation between Suriname and China.
“With these steps, both countries are committed to financial relief and sustainable development, based on partnership, equality, and shared development goals.”
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