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Suriname and the IMF in April reached a preliminary $690 million financing deal.
Suriname’s Finance Minister Armand Achaibersing told the country’s parliament on Thursday that the country’s economy has strengthened considerably since the initial IMF deal.
“This needs to be factored into the program, because the financing needs will be less stringent than they were when the Staff Level Agreement was reached in April,” Achaibersing said.
Creditors say the 70% haircut proposed by Suriname does not take into account its capacity to pay nor the country’s own description of its “bright economic future.”
They have also complained about not being sufficiently involved in the IMF financing arrangement. (Reporting by Rodrigo Campos in New York and Ank Kuipers in Paramaribo, writing by Brian Ellsworth; Editing by Sandra Maler and Richard Pullin)