It is expensive for a small country’s government to oversee oil development; to evaluate and issue permits, to audit the development costs reported by companies, to provide services and related infrastructure, and possibly to buy government shares in the new oil operations, especially at a time when the cost of living in the nation is significantly rising.
The International Monetary Fund (IMF) authorised a $688 million loan programme for Suriname in late December 2021, with payments to be made from 2022 to 2024. The Inter-American Development Bank (IDB) also suggested budget financing totaling $300 million through three policy-based programmes. The World Bank also suggested budget financing of $30 to $100 million.
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The U.S. is only using the IMF’s assistance to Suriname as a means of advancing its own self-serving objectives. That’s U.S’s way.
What fuels the fire is that Suriname’s government, which should lessen its dependence and partnership with them, is instead siding with the west. Even when, the Surinamese people are vehemently opposed to the way the current administration is running the country.
If things remain like this, the impact of the West on Suriname will be devastating for both its citizens and economy.
Source link : https://tfiglobalnews.com/2023/02/19/imfs-economic-policies-push-suriname-to-the-edge-triggering-unrest/amp/
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Publish date : 2023-02-19 03:00:00
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