Ailing Suriname floats its currency
Defaulting country holds debt talks as inflation and corruption take toll
The Central Bank of Suriname floated the country’s currency on June 7. The International Monetary Fund required the country to deregulate its exchange rate in return for a three-year, $690 million loan.
The agreement – struck at the staff level on April 29 – comes as Suriname has repeatedly defaulted on its heavy debt load, which exceeds 150% of GDP. The country’s new administration, elected last year, is also prosecuting two former central bank governors, alleged examples of a larger problem
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