Fi­nan­ce Mi­ni­stry: “No mo­ne­ta­ry fi­nan­cing”

Times of Suriname - - ENGELS -

“The­re is no mo­ne­ta­ry fi­nan­cing. The de­fi­cit of the Sta­te bud­get has been within the tar­get fi­gu­res of the In­ter­na­ti­o­nal Mo­ne­ta­ry Fund (IMF),” said the Fi­nan­ce Mi­ni­stry in a press re­lea­se that was is­sued on Sun­day. The mo­ne­ta­ry au­tho­ri­ties (the Cen­tral Bank of Su­ri­na­me (CB­vS) and the Fi­nan­ce Mi­ni­stry) ma­de it clear that the cur­rent strict fis­cal-mo­ne­ta­ry po­li­cy is ai­med at get­ting a stea­dy eco­no­my and sta­ble ex­chan­ge ra­tes. The au­tho­ri­ties con­stant­ly keep in mind that the govern­ment earns less in­co­me and that funds are on­ly spent when it is ab­so­lu­te­ly ne­ces­sa­ry. Re­buil­ding the na­ti­on’s mo­ne­ta­ry re­ser­ve remains a top pri­o­ri­ty. The mi­ni­stry al­so poin­ted out that clients of banks ex­pe­rien­ce a cre­dit crunch due to the govern­ment’s de­lay in pay­ments to the banks. The au­tho­ri­ties ha­ve the­re­fo­re ma­de in­di­vi­du­al agree­ments with the banks in or­der to lift the cre­dit crunch soon.

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