WASHINGTON, CMC – The executive directors of the International Monetary Fund (IMF) said on Wednesday. At the same time, they welcome the progress made by Suriname. Still, recent fiscal and monetary slippages have eroded earlier stabilisation gains at a time when the Dutch-speaking Caribbean Community (CARICOM) country approaches a pivotal transition to large-scale oil production.
The IMF executive directors have completed the Article IV Consultation for Suriname, noting that gross domestic product (GDP) growth is slowing, driven by a decline in gold production. The Washington-based financial institution said that, having made meaningful earlier progress toward restoring macroeconomic stability, fiscal and monetary slippages in 2025 reduced cash buffers, weakened the currency, and pushed inflation back to double digits.
“The increase in gross debt to an estimated 106 per cent of GDP is mainly due to a successful liability management operation. The current account deficit is estimated to have exceeded 30 per cent of GDP due to offshore oil field investment imports mostly financed by foreign direct investment (FDI).”
It said non-natural resource growth is estimated to reach 4.7 per cent in 2026, supported by positive oil-related sentiment. Oil field development and relatively stable gold production are expected to support growth of around four per cent until 2028, when offshore oil production is expected to push growth to around 30 per cent.
The executive directors welcomed the progress achieved under the IMF-supported programme, concluded in March last year, while noting that recent fiscal and monetary slippages have eroded earlier stabilisation gains at a time when Suriname approaches a pivotal transition to large-scale oil production.
They said that against this backdrop, they have underscored the need for renewed commitment to prudent and credible macroeconomic policies, strengthened institutions, and enhanced governance to safeguard macroeconomic stability and support inclusive growth. Technical support from the IMF and other development partners will be essential to support their policy endeavors, and, in this regard, several Directors supported the authorities’ request for a long-term macro-fiscal expert (LTX).
The directors said that improving the fiscal balance is essential to contain foreign-exchange and inflationary pressures and rebuild buffers, and that while recent liability-management operations provide some liquidity in the short term, they agree on the need for a significant fiscal adjustment in 2026 to underpin stability.
They are encouraging measures to raise the primary surplus while safeguarding priority investment in human capital, including by resuming electricity subsidy reductions, restraining the wage bill, broadening the tax base, and improving tax administration through digitalisation.
The IMF officials said that strong institutions are crucial for the effective management of prospective oil wealth and urged the complete and timely implementation of the recently passed public financial management and Sovereign Wealth Fund legislation to ensure transparent management of mineral revenues.
They said that monetary policy should be firmly oriented towards maintaining price stability and recommended bringing reserve money to the target through open-market operations.
The directors supported plans to transition to a new monetary policy framework and encouraged efforts to enhance the central bank’s capacity. Noting the importance of exchange rate flexibility, the directors recommended limiting foreign exchange interventions to a narrow definition of disorderly market conditions.
They called for enhancing financial sector resilience by assessing and promoting stronger bank risk-management practices and by stepping up supervisory oversight, including of nonbank financial institutions (NBFIs).
The directors said that governance reforms will be crucial to channel oil revenues transparently and called for amendments to the anti-corruption law, operationalization of the procurement law, and further strengthening of the anti-money laundering and combating the financing of terrorism (AML/CFT) framework.
and then  said on Wednesday. At the same time, they welcome the progress made by Suriname){kind=link}