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Staatsolie director not concerned about Credit Suisse loan

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Staatsolie has a loan agreement with the Swiss bank Credit Suisse. A delegation from this bank was received by President Chan Santokhi. Internationally, many investors have lost confidence in this bank. The stock price of the financial institution is plummeting. It is feared that the bank could go bankrupt.

Annand Jagesar general director of Staatsolie said to the news press that the agreement that the company has with the consortium of banks, of which Credit Suisse is part, remains unchanged. He does not expect Staatsolie to suffer if the Swiss institution could possibly go bankrupt. Jagersar explains that the event of bankruptcy, the money cannot be taken back.

Staatsolie’s CEO said that what Credit Suisse can do is sell the debt to another party, but they should not be bothered. The company has no money with the financial institution, but has a loan agreement.

President Santokhi answered a question about Credit Suisse at a press conference Thursday evening that Staatsolie is in talks with the institution. There is talk about debt restructuring and various insights that are available. Information has been given about the problems that exist and the route that will be taken. All options are kept open. The head of state emphasizes that Staatsolie has an agreement with the financial institution.





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