Suriname’s minister of finance, Gillmore Hoefdraad, tells GlobalMarkets that the economic recovery is on track and that the government is taking measures to ensure the country is better placed to withstand future shocks.
South America’s smallest nation is rich in economic potential, with impressive natural resources, an investor-friendly government, and a well-educated population.
A strong policy reaction to a harsh commodity shock in 2015 has put Suriname on the road to recovery. But the government still faces challenges in making the recovery sustainable and reducing vulnerability to the commodity cycle.
The stellar performance of Suriname’s gold sector continues, while the potential of offshore oil remains huge despite a couple of early dry wells. A market-friendly government is key to unlocking the country’s natural resource potential.
Suriname’s oil company could be on the verge of an exciting discovery that will be likely to bring a first venture into international capital markets. Work to ensure the company is prepared for this brave new world is well under way.
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