The actions President Chan Santokhi announced in the National Assembly (DNA) to fix the exchange rate are deemed useless by economist Winston Ramautarsing. In an interview with the media, the vice-chairman of the Association of Economists in Suriname (VES) said the measures won’t be effective.
These actions are not novel. These strategies, he claims, are already part of the intervention plan for December 2022. The economist claims that, in the absence of the president, parliament has assumed responsibility for the government’s mission of holding hearings with the same set of individuals who are involved in foreign exchange operations and will result in a new report. What will result from it is still a mystery to us. I therefore am unable to comment at this time on the set of steps the government will take to reduce the rate.
He does want to convey to society that the cost will not decrease. And he will have to let them down. However, it is not how the exchange rate will decrease. This is not something he just said today. This was his recent statement. You cannot sing, command, or manipulate the exchange rate. No, the exchange rate is determined by supply and demand with a policy that fosters confidence.