Misiekaba slams Moody’s review for downgrade

Moody’s Investors Service last week placed the B1 long-term issuer rating and senior unsecured notes of the government of Suriname on review for downgrade. The decision to initiate the review for downgrade was prompted by significant deterioration in the government’s fiscal position, as reflected in debt ratios that are at higher levels than previously expected; the likelihood that fiscal reforms will proceed more slowly in the absence of an IMF program and increasing government liquidity risks because financing has shifted toward shortterm domestic debt issuance. MP Andre Misiekaba, leader of the NDP faction in Parliament, pointed out that there is more at stake than just the reasons given by the international ratings bureau. “It clearly seems like a scenario,” said MP Misiekaba who added that various developments have occurred within a short period. “We have barely recovered from an attempt to break the DSB and action groups are appearing again out of nowhere. And we have also received word of Moody’s plans. It all seems like a organized attack,” said MP Misiekaba who urged the government to remain on high alert. The legislator is strongly convinced that there are various powers that want to destablize the country in order to discredit the Bouterse administration. “At various moments it has become clear that local as well as foreign powers have been busy,” said MP Misiekaba.