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Interview Governor Hoefdraad in The Washington Times “Managing economic growth through financial stability”
Click here for the interview
Dagong Global Credit Rating Co. Assigns BB+ to the Republic of Suriname
Click here for the press release
Financial Stability Seminar (July 2014)
Governor Hoefdraad delivers the opening speech at the financial stability seminar.
Click here for the speech
Annual meeting of the Board of Governors of Inter-American Development Bank
COSTA DO SAUÍPE, BAHIA, BRAZIL
March 29, 2014
Written statement by the Governor for Suriname
Gillmore Hoefdraad
1. I would like to take this opportunity to thank the Brazilian Government for hosting this annual event. I am grateful that you are making our stay so pleasant and fruitful.
Read more: Annual meeting of the Board of Governors of Inter-American Development Bank
Monetary measures per September 2013
In a press conference on Sunday 15 September, Governor Gillmore Hoefdraad explained: (a) the status of the economy, (b) the government’s proposed spending cuts, (c) the credit policy of the banks in the past few months, (d) new monetary policy measures, and (e) agreements with players in the currency market.
Suriname: IMF 2013 Article IV Consultation: Preliminary Conclusions (July 2013)
IMF team praises authorities’ policies during the 2013 consultation visit
The IMF team working on Suriname has just completed the visit for its annual consultation process. The team noted the high quality and openness of the discussions and the remarkable progress that Suriname has achieved in the last 3 years to maintain strong and stable growth and modernize its public sector.
Read more: Suriname: IMF 2013 Article IV Consultation: Preliminary Conclusions (July 2013)
Investment approach CBvS: Gold reserves and risk control
Gold is part of Suriname’s international reserves. A respectable part of our national income is derived from gold stemming from our own extraction activities. Suriname exports most of that gold. However, keeping a large portion of international reserve in the form of gold could be disadvantageous, because of the price fluctuations on the international markets. A sustained drop in the price of gold could result in large losses.
Read more: Investment approach CBvS: Gold reserves and risk control
Suriname's macroeconomic outlook rated positive
Standard & Poor’s TV broadcast explains why they upgraded Suriname’s outlook to positive.
Source: Standard & Poor’s TV Broadcast on YouTube
Standard & Poor's Ratings Services announced on Thursday April 25th 2013 that it has revised Suriname's credit rating outlook upward from stable to positive.
Draft legislation on Suriname’s sovereign wealth fund send to Parliament
Suriname is about to establish its own sovereign wealth fund, named the Savings and Stabilization Fund Suriname (SSFS). Suriname is blessed with an abundance of natural resources, but these are finite and nonrenewable. Prices for mining have been unstable in the past, showing large fluctuations. One of the benefits of the SSFS is that the country can be protected from the boom and bust cycles that have plagued us in the past. Establishing the SSFS is necessary because in the past the revenues from mining have fluctuated substantially.
Read more: Draft legislation on Suriname’s sovereign wealth fund send to Parliament
Central Bank starts ambitious financial education program
The Central Bank of Suriname is trying to act as a catalyst for knowledge. The central bank has started an ambitious program to train young graduates in various central bank areas, with hands-on experience with policies and cooperation with other institutions. We intend to also exchange young trainees with other organizations.
Read more: Central Bank starts ambitious financial education program
Suriname debuts at international bond market
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.
Investors impressed by Suriname’s macroeconomic overview at Toronto’s Mining Fair (PDAC)
During the PDAC Conference (Mining Investment Show at Toronto, Canada) from March 3rd – 6th 2013 Suriname’s Government presented its investment opportunities in the mining sector at a side event.
Read more: Investors impressed by Suriname’s macroeconomic overview at Toronto’s Mining Fair (PDAC)