The government of Suriname intends to issue a first time ever sovereign bond for approximately US$ 500 million to raise funds for the financing of its equity share in planned joint ventures with two North American mining companies.

The joint ventures will be business undertakings in the exploration and mining of gold. Draft agreements for these (referred to as the ‘gold agreements’) are currently being discussed in the Surinamese Parliament. With the bond issuance the government is also looking to raise funds for the State Oil company, Staatsolie N.V., which is embarking on a large-scale capital investment program.

After an initial review, the government has decided it favors issuing new government debt in international and local markets to finance the project rather than through other options. Government’s considerations include the following:

  • Borrowing costs for similarly-rated emerging market governments in international markets are currently at or near all-time lows;
  • Prudent macroeconomic policies and the stabilization of the exchange rate have led to upgrades from all three major credit rating agencies, resulting in four upgrades in the recent two years. This is believed to also push borrowing costs for Suriname downwards;
  • Both companies have drafted the agreements to effectively prevent the government from directly selling its equity. Thus investors would be assured the bond would remain backed by proceeds from gold exploration and mining;
  • Raising money via these companies is believed to be available however quite expensive and possibly compromising the government’s ability to act as an independent shareholder;
  • Funding the investments via reserves could seriously harm the international rating of the country and compromise the stability of the exchange rate by depleting reserve coverage of imports; and
  • This would undermine the relationship between the Central Bank and the Government.


The government has already put out a Request for Proposal (RfP) to the leading international investment banks in the field. It intends to select a bank based on its reputation, relevant experience, transparency assurances that it can provide, and costs. The Government will also hire an independent international law firm to assist in the process. The process of selection of the financial and legal advisors will be kept transparent to the full, which subsequently also offers confidence to investors.


Once the draft gold agreements are approved by Parliament, the government together with the advisory companies would start preparing the “bond offering memorandum” or prospectus. This prospectus would provide detailed disclosure of the country, including key risks, political and social background, and a balanced overview of economic and financial prospects. It will be accompanied by marketing material that will be used to position the country to raise money, as well as the required documents on the applicable regulation in the country.

The international mining companies are committed to a technical and environmental feasibility study in connection to closing the deal. These studies would also be taken up to the Parliament and the committees for discussion. In this way, the government is trying to involve various stakeholders in the process of discussing options and choosing what is best for the country.

When all this is complete, a “road show” will be launched during which top economic officials will lead meetings with key interested institutional investors in the US, Europe, and potentially the Caribbean.

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

 Period   Average End-of-period
2020   34.9 60.8
2021   59.1 60.7
2022   52.4 54.6
2023   51.6 32.6
2024   16.2 10.1
       
2025   Month-to-month Year-to-year
Jan   0.6 9.9
Feb   0.4 9.9
Mar   0.5 5.7
Apr   0.7 5.7
May*)   0.8 6.0

*) Preliminary figures

 

 

Weighted Average RatesJuly 02 - 10:00h (Transfers)

Currency Buying Selling
USD 37.000 37.690
EUR 43.719 44.370
GBP 50.688 51.682
XCG 20.330 20.728
AWG 20.556 20.958
BRL 6.735 6.867
TTD 5.460 5.567
BBD 18.239 18.597
XCD 13.704 13.972
GYD PER 100 17.581 17.926
CNY 5.164 5.265

Weighted Average RatesJuly 02 - 10:00h (Banknotes)

Currency Buying Selling
USD 38.444 39.056
EUR 44.365 45.035
GBP 52.667 53.710
XCG 21.123 21.541
AWG 21.358 21.781
BRL 6.998 7.137
TTD 5.673 5.785
BBD 18.951 19.327
XCD 14.239 14.520
GYD PER 100 18.268 18.629
CNY 5.366 5.472

Gold CertificatesJuly 02

Coupon SRD
5 gram 40.581,87
10 gram 81.163,73
50 gram 405.818,67
100 gram 811.637,34
500 gram 4.058.186,70
1000 gram 8.116.373,40
Gold LBMA USD 3.349,00 /tr.oz.

Weighted Average Accepted
OMO Rate

Auction ID Auction Date Rate (%)
CBTD250625-1W 2025-06-25 5,9
CBTD250618-1W 2025-06-18 5,8
CBTD250611-1W 2025-06-11 10,2
CBTD250604-1W 2025-06-04 4,5

Standing Lending Facility Interest Rate

Auction ID Auction Date Rate (%)
CBTD250625-1W 2025-06-25 7,1
CBTD250618-1W 2025-06-18 7,0
CBTD250611-1W 2025-06-11 12,2
CBTD250604-1W 2025-06-04 5,4
Balance sheet

Inflation

 Period   Average End-of-period
2020   34.9 60.8
2021   59.1 60.7
2022   52.4 54.6
2023   51.6 32.6
2024   16.2 10.1
       
2025   Month-to-month Year-to-year
Jan   0.6 9.9
Feb   0.4 9.9
Mar   0.5 5.7
Apr   0.7 5.7
May*)   0.8 6.0

*) Preliminary figures