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Exchange rates causes serious concern for President Santokhi

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Surinamese President Santokhi has just released a statement in which he indicates that exchange rates are also of serious concern to him. He also briefly discussed the 35% retention scheme, which takes effect today.

Santokhi said the Surinamese government has held talks about the settlement with the Central Bank of Suriname and other actors within the financial sector. The president said that the retention scheme should ease the pressure on the USD.

He further stated that there have been good conversations so far with the IMF, the IDB and the Secretary General of the OAS, among others. The IMF has meanwhile agreed to start renegotiating the recovery program, which is not feasible due to economic developments in the world.

This morning the President said that the world offers perspectives, but only by joining forces can we explore what we can do for generations to come.

By General Order of the Foreign Exchange Commission of July 26, 2022, No. 224, it has been determined that at least thirty-five percent (35%) of all proceeds arising from the export of gold, within five days of the importation of such proceeds, shall be for sale must be offered to a foreign exchange bank in Suriname that has correspondent relations with foreign banks, against Surinamese dollars.

 

 

 

 

 

 

 

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