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  • 👬 Central Bureau of Civil Affairs must finally register marriage of same sex couple

👬 Central Bureau of Civil Affairs must finally register marriage of same sex couple

and IMF states Suriname's economy has stabilized

Happy Monday!

This week we cover the latest court decision on same sex marriage in Suriname, IMF’s latest review of Suriname, FNBC’s launch, and the USD 20 million agreement with SFD

LBGTO community happy with judge's ruling that CBB must now register marriage of 2 same-sex couples

  • The subdistrict court ruled that the Central Bureau for Civil Affairs (CBB) must register the marriages of two same-sex couples married abroad.

  • The CBB has seven days to comply, or it will face a daily fine of SRD 10,000, up to a maximum of SRD 1 million.

  • The case was filed against the State in October 2023, and Judge Shanti Bikhari delivered the verdict.

  • The court ruled that Surinamese laws conflict with international treaties that have been ratified.

  • Despite a possible appeal by the State, the CBB is still obligated to register the marriages.

  • The ruling was celebrated in the courtroom, with activists calling it a significant victory for LGBTQ+ rights.

  • The couples were married in Argentina in 2018 but faced years of legal battles to have their marriage recognized.

  • Activist Juan Pigot emphasized that while society is ready for same-sex marriage recognition, lawmakers have not acted.

  • The court also ordered the government to amend legislation to align with international treaties.

  • The ruling challenges the recently adopted Civil Code, which excludes LGBTQ+ recognition, and lawmakers still have time to correct this before May 1.

Latest IMF review: Economy stabilized; challenges still ahead

  • Suriname's economy has stabilized, with inflation dropping from 60% to 10% and monetary reserves increasing.

  • Despite progress, income will not rise until 2028, while significant debts and interest payments remain.

  • Strict budgetary discipline is necessary even after the IMF program ends in March.

  • The IMF delegation, led by Anastacia Guscina, completed the final review, with results yet to be announced.

  • Minister Stanley Raghoebarsing and CBvS President Maurice Roemer emphasized that IMF support has been crucial for economic recovery.

  • Suriname has updated outdated laws and implemented significant economic reforms, improving stability.

  • Continued good governance and international trust are essential, especially before oil revenues start in 2028.

  • The IMF’s involvement remains valuable, providing financial support and reinforcing investor confidence.

FNBC: Gold Investment Coins and Bullions on the Market Today

  • The First National Bullion Company (FNBC) will sell gold investment coins and bullion to investors in Suriname, with sales exclusively in SRD.

  • The initiative aims to provide a secure savings and investment option, reducing reliance on foreign currency and stabilizing the Surinamese dollar.

  • FNBC ensures gold purchases can be made from as little as 1 gram and stored at the Central Bank of Suriname (CBvS) until a coin or bullion is formed.

  • Local raw gold is refined in Dubai and returned to Suriname with international certification, ensuring its authenticity and value.

  • FNBC has partnered with the Southern Commercial Bank, which will screen customers to prevent money laundering and ensure compliance with regulations.

  • The government has supported FNBC by waiving part of the export royalties and consent rights, keeping gold prices accessible.

  • Customers will be able to trade their gold digitally, and use it as collateral for financial services like credit cards.

  • FNBC launched its website at an event attended by President Chandrikapersad Santokhi, where key officials emphasized the financial inclusion benefits.

  • FNBC's goal is to expand financial access, allowing individuals and businesses in Suriname to save, trade, and invest in gold securely.

USD 20 million Agreement with SFD for Electricity Improvement

  • Suriname signed a USD 20 million financing agreement with the Saudi Fund for Development (SFD) to expand electricity supply in Paramaribo and Nickerie.

  • The total project investment is US$ 105 million, with contributions from the Islamic Development Bank (US$ 48 million), the OPEC Fund (US$ 25 million), and Suriname (US$ 12 million).

  • The project aims to improve electricity accessibility, quality, and affordability, benefiting the Surinamese population.

  • It will connect 4,350 new households and 470 commercial units, ensuring a more stable and reliable power supply.

  • The Energy Companies Suriname (EBS) will implement the project, expected to be completed within four years.

  • Minister Stanley Raghoebarsing emphasized that securing energy supply is crucial for economic growth and public well-being.

  • SFD CEO Abdulrahman Al-Marshad highlighted the fund’s role in supporting energy and infrastructure projects worldwide.

  • Two additional Surinamese projects with SFD are in preparation, focusing on housing and road infrastructure.