Suriname holds its breath around former President Bouterse's verdict for the December 8, 1982 murders

Happy Monday!

This week we cover economic news around Suriname’s restructuring of loans, and Suriname holds its breath for the upcoming judgment against convicted ex-president Desi Bouterse.

Suriname awaits a decision for former President Desi Bouterse’s judgment while holding its breath.

Former President Bouterse holds a rally before his judgment for the December 8th murders.

• In a crowded NDP (National Democratic Party) Ocer party center, NDP’s chairman and former president Desi Bouterse urged his supporters not to attend Suriname’s Court of Justice session on December 20th, where a verdict will be announced in the appeal of the December 8 criminal case.

• Bouterse faces a 20-year sentence, and the government’s Public Prosecutor will seek detention upon conviction.

• Bouterse contends that the trial is political and mentions documents that have been sealed by the Netherlands for the past sixty years.

• Bouterse continues to assert that the 1982 victims were involved in invasion plans, which justified the changing of the regime and the military’s actions.

• Bouterse calls for peace, expressing hope for wise judgments, and emphasizes the need for national unity post-elections.

• The verdict is anticipated, with Bouterse hoping for sound judgment from the Court of Justice.

  Foundations for the December 8 murders respond to Bouterse’s rally.

• Sunil Oemrawsingh, the chairman of the 8 December 1982 Foundation, has strongly condemned NDP chairman Desi Bouterse for threatening judges involved in the December 8 criminal case.

• The threats came during a mass meeting on Saturday. Bouterse implied that judges would be responsible for the consequences of their ruling.

• Oemrawsingh, an advocate for human rights, dismisses these threats and emphasizes vigilance to maintain public order and peace following the verdict.

• He highlighted the government's responsibility to keep order and peace in the country, considering past human rights violations.

• Oemrawsingh points to a dedicated Human Rights monument and commemorations for all violations since 1980, refuting claims that only the December 8, 1982, murders are emphasized.

• He stressed the importance of upholding standards of decency and human dignity in the country throughout this moment.

Suriname has been praised for its economic reforms by the IMF.

• The IMF's board praises Suriname for positive efforts in implementing economic reforms, expressing satisfaction with budget discipline.

• A $53 million allocation includes budget support and funds for international reserves. Suriname is projected to achieve a 1.7% GDP surplus, crucial for social programs.

• Emphasis on improving the social safety net and addressing ghost employees is noted. Positive developments in debt restructuring and credit rating upgrades are acknowledged.

• Swift implementation of Central Bank-related measures is urged. The staff report's attention to climate-related issues is commended.

• The program is extended to March 2025, with a $63 million increase in the financial envelope, bringing total IMF assistance to $577 million.

• Challenges in the financial sector are recognized, with recent legislation supporting Central Bank intervention. While signs of stability are seen, as the country is growing economically, while also decreasing inflation and increasing the confidence of investors in the country, continued discipline is stressed. A tight monetary policy will continue focusing on budgeting, monetary policies, social safety nets, and income generation for a balanced budget execution.

• The government has successfully concluded the private debt exchange and is finalizing agreements with remaining creditors. The short-term priorities for the government and the IMF include maintaining a prudent budget, protecting the vulnerable in society, sustaining structural reforms' momentum, and preventing policy reversal.

• The IMF commends the authorities for implementing challenging reforms in a challenging political and socio-economic environment.

In more economic news, Suriname will receive a $150 million loan to support transparency policies.

• The Inter-American Development Bank has approved a $150 million loan for Suriname to support public administration and transparency policies.

• The goal is to enhance accountability mechanisms, improve reporting on public finances, and address vulnerabilities related to financial integrity. This will contribute to Suriname's economic growth and fiscal sustainability.

• Four components the project will focus on will ensure a stable macroeconomic context, improve integrity and anti-corruption governance, support transparency in public finance management, and strengthen the framework for financial integrity.

• The goal of this project is to promote transparency, prevent corruption, and address illegal financial flows to benefit Suriname’s citizens.