The Jeddah-based Islamic Development Bank (IsDB) Group has embarked on a two-year (2014 -2015) Interim Member Country Partnership Strategy (MCPS) for Suriname. Under this Interim Strategy, the IsDB intends to contribute to the development priorities of the Government of Suriname underlined in the country’s Five Year Development Plan (2012-2016). In particular, the Strategy is aimed at partnering with the country in its efforts to address the development needs of the country.  

 

The Interim MCPS has been formulated by the Government of Suriname and the IsDB through a consultative process with the relevant stakeholders. This Strategy is regarded as the first step taken by the Bank to enhance its cooperation with Suriname and address some of the most pressing needs of the country. This Interim Strategy will be followed by a full-fledged IsDB Group MCPS, which will be undertaken in close consultation with all the key stakeholders in the country.

 

Under the Interim MCPS, the IsDB will provide support in four major areas namely: i) Healthcare Services; ii) Skills Development / Vocational Training; iii) Sea Transportation (i.e. rehabilitation and expansion of the Nieuw Nickerie Seaport through dredging and construction of warehousing facilities); and iv) Institutional Capacity Building including cyber security. The IsDB is currently processing two projects  with a contribution of US$68 million under this Interim MCPS, while the other programs are under discussion and preparation stage.

 

In the coming years, the Bank’s Strategy will lead to a scale up of its development assistance to further strengthen socio-economic development of Suriname. IsDB’s engagement will be highly selective through implementation of high-yielding operations with greater impact on the lives of people. The future Strategy will also explore the best possible operational modalities to serve the country more effectively given its geographical location and long distance from the rest of the IsDB membership and the IsDB Headquarters in Jeddah, Kingdom of Saudi Arabia.  The IsDB will also strive to enhance its relationship with other development partners active in Suriname, within the overall context of synergy, development effectiveness and harmonization.

Exchange RatesMarch 09th and until further notice

Currency Buying Selling
USD 14,018 14,290
EUR 16,628 16,959
GBP 19,396 19,782
ANG 7,699 7,852
AWG 7,784 7,939
BRL 2,438 2,485
TTD 2,063 2,103
BBD 6,907 7,044
XCD 5,190 5,293
PER 100 GYD 6,657 6,790

Gold CertificatesMarch 09th and until further notice

Coupon SRD
5 gram 7.814,97
10 gram 15.629,94
50 gram 78.149,69
100 gram 156.299,39
500 gram 781.496,94
1000 gram 1562993,88
Gold LME: USD 1.701,00 /tr.oz.

Inflation

    Average End-of-period
2013   1.9 0.6
2014   3.4 3.9
2015   6.9 25.1
2016   55.5 52.4
2017   22.0  9.2 
2018   6.8# 5.4 
2019   4.4#  4.2 
2020   34.9 60.8
2021   59.1  60.7 
       
2021   Month-to-month Year-to-year
Jan   2.6 63.8
Feb   1.3 61.9
Mar   2.1 50.4
Apr   3.5 44.4
May   4.2 43.6
Jun   10.8 54.0
Jul   5.7 58.9
Aug   11.6 74.4
Sep   1.3 69.5
Oct   1.5 60.6
Nov   3.3 63.4
Dec   1.3 60.7
       
2022   Month-to-month Year-to-year
Jan   3.1 61.5
Feb   1.7 62.1
Mar   2.2 62.2
Apr   1.9 59.8
May   2.7 57.5
Jun   9.1 55.1
Jul   1.7 49.2
Aug   4.0 39.1
Sep   3.3 41.9
Oct*   6.6 49.1

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)

 

Weighted Average RatesDecember 05 - 15:00h (Transfers)

Currency Buying Selling
USD 31.715 31.967
EUR 32.676 33.430
GBP 39.004 39.769
ANG 17.426 17.767
AWG 17.619 17.965
BRL 6.051 6.169
TTD 4.664 4.756
BBD 15.634 15.941
XCD 11.746 11.977
PER 100 GYD 15.070 15.365
CNY 4.564 4.653

Weighted Average RatesDecember 05 - 15:00h (Banknotes)

Currency Buying Selling
USD 30.388 30.835
EUR 30.369 31.077
GBP 37.372 38.112
ANG 16.697 17.027
AWG 16.882 17.216
BRL 5.798 5.912
TTD 4.469 4.558
BBD 14.980 15.277
XCD 11.255 11.478
PER 100 GYD 14.440 14.725
CNY 4.373 4.459

Gold CertificatesDecember 05

Coupon SRD
5 gram 18.342,98
10 gram 36.685,97
50 gram 183.429,85
100 gram 366.859,70
500 gram 1.834.298,50
1000 gram 3.668.596,99
Gold LBMA USD 1.784,75 / tr.oz

Weighted Average Accepted
OMO Rate

Auction ID Auction Date Rate (%)
CBTD221130-1W 2022-11-30 86,0
CBTD221123-1W 2022-11-23 86,4
CBTD221116-1W 2022-11-16 86,6
CBTD221109-1W 2022-11-09 87,3

Standing Lending Facility Interest Rate

Auction ID Auction Date Rate (%)
CBTD221130-1W 2022-11-30 103,2
CBTD221123-1W 2022-11-23 103,7
CBTD221116-1W 2022-11-16 103,9
CBTD221109-1W 2022-11-09 104,8
Balance sheet

Inflation

    Average End-of-period
2013   1.9 0.6
2014   3.4 3.9
2015   6.9 25.1
2016   55.5 52.4
2017   22.0  9.2 
2018   6.8# 5.4 
2019   4.4#  4.2 
2020   34.9 60.8
2021   59.1  60.7 
       
2021   Month-to-month Year-to-year
Jan   2.6 63.8
Feb   1.3 61.9
Mar   2.1 50.4
Apr   3.5 44.4
May   4.2 43.6
Jun   10.8 54.0
Jul   5.7 58.9
Aug   11.6 74.4
Sep   1.3 69.5
Oct   1.5 60.6
Nov   3.3 63.4
Dec   1.3 60.7
       
2022   Month-to-month Year-to-year
Jan   3.1 61.5
Feb   1.7 62.1
Mar   2.2 62.2
Apr   1.9 59.8
May   2.7 57.5
Jun   9.1 55.1
Jul   1.7 49.2
Aug   4.0 39.1
Sep   3.3 41.9
Oct*   6.6 49.1

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)