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Debt treatment -
June 22, 2022

Supporting agreements with the international institutions

IMF programme supported by the arrangements under the Extended Fund Facility (EFF) approved on 22 December 2021

Download the IMF report EFF document

Total external debt of the country

US$ 98,3 million of which being due to Paris Club as of  1 January 2022

Amounts treated

US$ 57,67 million of which US$ 57,67 million  being rescheduled

Accorded treatment

Restructuring agreement of its external public debt, following the financing assurances provided by the Paris Club creditors on 2 September 2021

Categories of debt treated

Treatment of arrears as of  31 December 2022

Treatment of maturities falling due from 1 January 2022 up to 31 December 2024

Repayment profile

Treatment under classic terms

  • Repayment of ODA claims over 20 years, with 7 years of grace
  • Repayment of non-ODA claims over 15 years, with 8 years of grace

Repayment of all existing arrears as of end-2021 in two instalments in 2022 and 2024

Specific provisions

Good will clause

Based on a future assessment that the Republic of Suriname has fulfilled all its commitments under the agreement, notably the comparability of treatment, and maintaining sound macroeconomic policies consistent with long-term debt sustainability, Paris Club creditors are committed to reschedule all maturities in capital falling due starting on 1 January, 2025. If the 2024 IMF assessment of the macroeconomic situation is consistent with the projections in the current EFF, the repayment schedule of rescheduled claims will be 17 years (including a 4-year grace period) for ODA claims and 12 years (including a 5-year grace period) for NODA claims from 1 December 2024.

This debt treatment will eventually allow the creditors to make additional efforts including through the conclusion of debt swaps, on a voluntary and bilateral basis, to support the country’s efforts in favour of environmental, social and governance goals.

The Republic of Suriname has committed to seek debt treatments at least as favourable from all other bilateral and external commercial creditors.

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Comparability of treatment provision

In order to secure comparable treatment of debts due to external public or private creditors, the Government of the Republic of Suriname commits itself to seek from its other official bilateral creditors and its external private creditors debt reorganization arrangements on terms at least as favourable as those set forth in the Agreed Minutes dated 22 June 2022 making sure to avoid discrimination among different categories of creditors.

For that purpose, the Government of the Republic of Suriname commits to inform the Participating Creditor Countries before concluding a debt reorganization arrangement in order to allow the Participating Creditor Countries to assess whether the proposed terms of debt treatment are at least as favourable to those set forth in the Agreed Minutes dated 22 June 2022.

The Government of the Republic of Suriname commits itself not to accord any other official bilateral creditors or its external private creditors financial conditions of repayment assessed more favourable than those accorded to the Participating Creditor Countries.

Cut-off date

29 April 2021

Organisation of the session

The meeting was chaired by William ROOS, Co Chairman of the Paris Club, Assistant Secretary at the Directorate-General of the Treasury of the French Ministry of Economy, Finance and Industrial and Digital Sovereignty

The head of the debtor country’s delegation was Mr. Armand ACHAIBERSING, Minister of Finance and Planning.

Participating creditors
Observers
  • AUSTRALIA, BELGIUM, CANADA, DENMARK, GERMANY, IRELAND, JAPAN, KOREA, REPUBLIC OF, RUSSIAN FEDERATION, SPAIN, SWITZERLAND, UNITED KINGDOM
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