“Fo­reign loans on hold”

Times of Suriname - - ENGELS -

A de­le­ga­ti­on from the In­ter­na­ti­o­nal Mo­ne­ta­ry Fund (IMF) will ar­ri­ve in Su­ri­na­me this week­end to dis­cuss the stand-by agree­ment of USD 478 mil­li­on nee­ded to fi­nan­ce the govern­ment’s Sta­bi­li­za­ti­on and Re­co­ve­ry Pro­gram 2016-2018. The govern­ment and the IMF de­le­ga­ti­on will al­so dis­cuss the elec­tri­ci­ty hi­ke. Pre­si­dent De­si Bou­ter­se would li­ke the next elec­tri­ci­ty hi­ke to be put on hold. “It is part of the pack­a­ge,” said Su­ri­na­me’s Fi­nan­ce Mi­nis­ter Gilm­o­re Hoef­draad. The IMF de­le­ga­ti­on will re­por­ted­ly stay in Su­ri­na­me for two weeks. The govern­ment has re­por­ted­ly de­ci­ded to put all big fo­reign loans on hold. Ac­cor­ding to Mi­nis­ter Hoef­draad, the govern­ment bond of USD 550 mil­li­on will be the last one for now. “You pay off tre­a­su­ry bills and it co­mes back in. Tho­se are things that go on but we are ta­king a break with re­gards to fo­reign loans.” The govern­ment will re­por­ted­ly try to haul in mo­re in­co­me through tax me­a­su­res. Su­ri­na­me has en­te­red the in­ter­na­ti­o­nal ca­pi­tal market with its govern­ment bonds and this mo­ve has ma­de head­lines in fo­reign coun­tries. Mi­nis­ter Hoef­draad poin­ted out, ho­we­ver, that the in­ter­na­ti­o­nal ca­pi­tal market should not ex­pect Su­ri­na­me

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