“IsDB is not cra­zy”

Times of Suriname - - ENGELS -

The law on pu­blic debt will not be put at risk with the $1.8 bil­li­on lo­an from the Isla­mic De­vel­op­ment Bank (IsDB). Pre­si­den­ti­al Ad­vi­sor Sub­has Mun­gra ex­plai­ned that the govern­ment will keep in mind the li­a­bi­li­ty cei­ling of 35% for fo­reign debt each ti­me it re­cei­ves a por­ti­on of the lo­an. The law on pu­blic debt has re­por­ted­ly been adap­ted. On­ce it has been ap­pro­ved by the govern­ment, the­re will be mo­re fi­nan­ci­al room to tap in­to the mo­ney which the IsDB has ma­de avai­la­ble for Su­ri­na­me. Se­ve­r­al or­ga­ni­za­ti­ons are cri­ti­ci­zing the govern­ment be­cau­se they are wor­ried about the lack of suf­fi­cient as­su­ran­ces to pay back the lo­an. Mun­gra poin­ted out that the con­cern is jus­ti­fied but that the­re are clear agree­ments with the IsDB with re­gards to the in­vest­ments that will be ma­de with the mo­ney. The ex­port ca­pa­ci­ty and the­re­fo­re the sta­te in­co­me will be in­crea­sed in sec­tors that are cur­rent­ly flou­ris­hing world­wi­de. “The IsDB is not cra­zy,” said Mun­gra. “They ha­ve ma­de it clear that pro­jects that will lead to pro­duc­ti­on must be pre­sen­ted so that they can get their mo­ney back,” said the pre­si­den­ti­al ad­vi­sor who is al­so an eco­no­mist

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