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🇸🇷 Suriname celebrates 50 year independence

As Natio disappoints on the world stage

Happy Monday!

This week Suriname celebrates 50 years of independence, Natio does not advance yet to the World Cup, Van Trikt is summoned by the courts again, and the IMF urges strong fiscal discipline before oil revenues hit.

Suriname's World Cup dream almost shattered after painful 3-1 defeat to Guatemala

  • Suriname lost 3–1 to Guatemala, ending its direct chance to reach the World Cup final qualifying round.

  • Natio conceded early in the second half and trailed 3–0 with fifteen minutes left, with the only Surinamese goal coming from a Guatemalan own goal in stoppage time.

  • Fans in Suriname and the diaspora, especially in the Netherlands, showed massive support and high expectations.

  • The government had even promised a national holiday if Suriname qualified, underscoring national excitement.

  • Guatemala outplayed Suriname with sharper execution and capitalized on defensive mistakes.

  • Panama’s 3–0 win over El Salvador secured their direct qualification and eliminated Suriname’s remaining path via runner-up ranking.

  • Suriname still has a final opportunity through the CONCACAF Confederation Playoffs but must win high-pressure knockout matches.

  • The evening moved from widespread euphoria to deep disappointment, though national support for Natio remains strong.

  • On social media many fans voice displeasure with Natio coach Stanley Menzo calling for his replacement

IMF issues stark warning for Suriname heading into 2028

  • The IMF says Suriname is at a historic turning point: recent stabilization gains are weakening just as major oil revenues approach.

  • Economic growth is modest (1.7% in 2024, 1.3% in 2025) but expected to rise sharply, with oil production in Block 58 set to begin in 2028 and potentially double the economy by 2030.

  • Large import needs for the oil project will create major current account deficits from 2026–2028, financed by foreign investment.

  • Fiscal stability is deteriorating due to election-related spending, supplier arrears, falling reserves, exchange rate pressure, and inflation rising above 10%.

  • The IMF urges strong fiscal discipline in 2026–2027, including expenditure ceilings, better public finance management, and clearing arrears.

  • Electricity tariffs should be fully indexed to costs and subsidies phased out, with savings redirected to more effective and better-targeted social programs.

  • Tax administration reform must accelerate, with higher and broader excises, stronger enforcement, and action against gold smuggling.

  • Governance, transparency, and SOE oversight must improve—including procurement reform, anti-corruption measures, real-time SOE financial data, and stronger monetary policy discipline by the Central Bank.

Van Trikt summoned to appear in new criminal investigation by Public Prosecution Service

  • Former Central Bank governor Robert van Trikt has been summoned as a suspect in a new criminal investigation and must appear before the examining magistrate on November 26.

  • The summons alleges violations of Article 13 of the Anti-Corruption Act, plus suspicions of embezzlement and fraud committed through misuse of official authority.

  • Van Trikt is already convicted in the first instance for a major Central Bank case, but his appeal is still ongoing and awaiting a final ruling.

  • His lawyer, Murwin Dubois, says the new case appears connected to the 2019 cash reserves during Van Trikt’s tenure as governor.

  • Dubois argues that multiple official reports over the past five years found no wrongdoing regarding those cash reserves.

  • He also invokes the ne bis in idem principle, saying a suspect cannot be prosecuted twice for the same offense, especially while the previous case is still in progress.

  • Dubois questions the legal basis for the new investigation, noting that oversight bodies such as the Court of Audit issued no negative findings.

  • The Central Bank’s own annual report for the relevant period also raised no concerns about the cash reserve transactions.

Atompai and Sardjoe form new management of Melkcentrale NV

  • MonchĂ© Atompai, previously supervisory board chairman and acting director, has been officially appointed general manager of Melkcentrale NV.

  • Anushka Sardjoe becomes the new chair of the supervisory board, replacing Atompai in that role.

  • Former CEO Dewkoemar Sitaram remains in custody as part of a major fraud investigation that has resulted in multiple arrests - including arrest of Ryan Torilal director of SDS Agriculture and Industrial Farm NV and partner of major NDP sponsor Warsha Sardjoe.

  • Internal audits and an LVV report revealed embezzlement exceeding SRD 17 million since 2018 at the state-owned dairy company.

  • Melkcentrale is recovering from three years of financial damage estimated at over SRD 350 million, prompting large-scale restructuring.

  • Twelve suspects—including senior management—were arrested; most remain detained and all implicated executives have been dismissed for integrity violations.

  • A new supervisory board led by Atompai initially restored stability and staff morale following the fraud revelations.

  • The company has repaid over 45% of local debt, made agreements with suppliers, and appointed a new management team to support its recovery.