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Suriname, post-election policies and challenges for the new government


Suriname, post-election policies and challenges for the new government
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Source: MercoPress
On May 25, President Chan Santokhi and his Progressive Reform Party (VHP) won the Suriname parliamentary elections, ending the ten-year rule of President Dési Bouterse and his National Democratic Party (NDP). After the elections, the country experienced a peaceful transition of power from an outgoing government that had been characterized by scandals and uncertainty, to a new administration promising prosperity, unified governance, and a recovery from the financial crisis that has plagued the nation for over five years. Even though the Santokhi administration has inherited a mess––caused by poor fiscal policies and a financial crisis that was aggravated by poor financial choices––it is still in a propitious position. The recent discoveries of offshore oil reserves present significant opportunities for the country. The new administrati ....

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Suriname taps Lazard to advise on debt restructuring plan


By Reuters Staff
2 Min Read
PARAMARIBO, Oct 8 (Reuters) - Suriname has tapped French investment bank Lazard Ltd to help the South American nation refinance its foreign debt, President Chan Santokhi said on Thursday.
The priority will be to seek a rescheduling and restructuring of two loans from investment bank Oppenheimer, Santokhi said at a news conference.
“It’s an amount of 550 million (U.S. dollars) plus 125 million in loans that the previous government had made, that we need to reschedule and bring them to a proportionally acceptable level,” Santokhi said.
Lazard will provide support for negotiations with international lenders including the International Monetary Fund and the World Bank, and will be tasked with helping find new capital for investment in Suriname, Santokhi said. ....

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