SURINAME-DEBT-Suriname is looking for debt restructuring from India.

NEW DELHI, India, Suriname hopes to restructure its US$38 million debt with India during the ongoing visit of President Chandrikapersad “Chan” Santokhi to the Asian country.

Foreign Affairs, International Business, and International Cooperation Minister Albert Ramdin, part of the official delegation from Paramaribo attending the 17th Pravasi Bharatiya Divas Convention, said the debt issue is a priority for the Caribbean Community (CARICOM government.

He said the outlook for the debt restructuring with India is positive.

Before he departs for New Delhi, President Santokhi said, “if the debt restructuring with India is realized, already identified projects in Suriname can be implemented.

“These are projects worth US$50 million. In addition, new projects can also be started, Santokhi said. A government statement said he had discussions on Sunday with India’s Foreign Minister Subrahmanyam Jaishankar.

Ramdin is quoted by the state-owned Suriname Communications Service (SCS) that several bottlenecks regarding further collaboration have been discussed.

He said the most important of these for Suriname is the debt rescheduling and its handling. “This is viewed very positively by the Indian government. We are in the final phase of completion,” Ramdin said.

There is already an agreement between Eximbank India and the Ministry of Finance and Planning. The debt rescheduling agreement will therefore have to be handled at that level. However, this requires approval from the Indian Ministries of Finance and Foreign Affairs.

“We already have the approval from the Ministry of Finance. Now all that remains is the Ministry of Foreign Affairs approval.”

Meanwhile, during his discussions with the Indian Foreign Minister, the SCS said the continuation of ICT projects was discussed.

Ramdin said India has long offered an ICT center to Suriname, and its implementation is now being discussed.

On the E-government project, which is also underway, President Santokhi has asked for support from technical experts.

“India will finance these,” Ramdin said.