Santokhi promises to do better

“IMF-program Bouterse was state scam”

The joint venture with the International Monetary Fund (IMF) must bring about economic recovery. “That is the difference with the IMF program that had been prepared by the Bouterse-Adhin administration in 2016,” said President Chan Santokhi. “The then government did not want to repair the economy. They had signed a so-called IMF Agreement. I call that a state scam,” said the Surinamese head of state who made it clear that the IMF program that has been formulated by his administration will bring the necessary relieve. Santokhi explained that “the way I see it the previous administration never planned on working with the IMF for a loan of $487 million at an interest rate of 1.05%.” The draft that had been prepared by the IMF was used to go shopping for $550 million at an interest rate of 9.25%. on the international capital market. “Once the money started pouring in, they stopped the IMF. Do you understand the difference now? And when the money, $550 million, arrived, a portion went to Staatsolie while the rest evaporated.” Santokhi promised that things will go differently this time around. The IMF-plan 2021 must reduce the budget deficit of about 19% to less than 5% within the next 3 years. The current government also aims at increasing the international reserves again. The nation’s economy shrunk with 14% in 2020. Santokhi hopes to trigger a growth of 4% with the IMF’s support. “The then government did not want to repair the economy.”