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Brunswijk: Don’t let “wild beasts” handle the exchange rate

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Dienst Dermatologie wordt versterkt door het Ministerie

De dienst Dermatologie kreeg op Wereld Aidsdag, 01 december jongstleden, minister Amar Ramadhin van Volksgezondheid en directeur Rakesh Gajadhar Sukul op werkbezoek. De dienst Dermatologie is verantwo...

Ronnie Brunswijk, vice president (VP), who has been on Stoelmans Island since last Thursday, claims he’s taken some time off to think about the unfavorable increase in the exchange rate. For the US dollar, this is already over SRD 31 and moving toward SRD 32. This cannot continue. In a dialogue with the reporters on the spot, Brunswijk stated that wild animals cannot establish the exchange rate.

According to Brunswijk, retail costs are going up daily. Inland, the situation is far worse. “This is a really challenging time for Suriname.” The direction is not under the control of the government. Only the mid-market rate for financial institution transactions is established by the Central Bank of Suriname. This scenario cannot continue in its current form. The Vice President says, “I am really worried.”

The Vice President met with financial institutions while the President was away. Agreements were then reached. The exchange rate for the US dollar,  which was already at SRD 29, has returned to almost SRD 26. The president is back. The cost subsequently started to increase once more. The government is unable to offer a solution to change the trajectory of events.

Brunswijk has given himself a few days to reflect. He had earlier said that the exchange rate for the US dollar shouldn’t go higher than SRD 30. The vice president believes there is enough money to step in. He claims that if the exchange rate increases by more than 2%, there is also room in the IMF program to do that. “However, the price becomes intolerable above SRD 30. We will look further when I return to town, “VP claims.

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