Suriname's president distributes the first of his Royalties for Everyone program

Santokhi distributed the first 50 certificates in the Royalties for Everyone (RVI) to people over 80 years old.

• President Santokhi has distributed the first 50 Royalties Voor Iedereen (RVI) certificates to seniors over 80, people with disabilities, and some young adults in Suriname.

• Each certificate represents a share worth US$750, which is expected to grow to US$1,275 by 2035 through 7% annual interest. If held until 2035 with a bonus, a full payout of US$1,425 is possible.

• Seniors aged 80 and above can transfer their certificate to Hakrinbank, the only participating bank, for an immediate payout of SRD 27,000, equivalent to US$ 750.

• The Hakrinbank holds the certificate rights and redeems the full value in 2035. Participants cannot sell the certificates themselves on the market.

• Payments are made to the Mopé mobile wallet, enabling users to withdraw cash or make regular payments. Bank staff assist seniors in setting it up.

• About 5,000 people have registered for the RVI program since the website launched two weeks ago.

Older citizens entitled to AOV (General Old Age Pension) will receive an extra one-time payment of SRD 2,100 this month.

• Extra Payment for AOV Recipients: All individuals entitled to the General Old Age Provision (AOV) will receive a one-time extra payment of SRD 2,100 this month, covering two months.

• This payment aligns with the SRD 1,500 bonus given to civil servants, of which 70% (SRD 1,050 per month) is being extended to retirees and now AOV recipients.

• The government intended to include AOV recipients earlier, but due to administrative delays, the payment is now made in a single installment.

• Finance Minister Raghoebarsing emphasized that this is not an election stunt and is unrelated to double salary disbursements, emphasizing no political motive.

• Labor union Ravaksur Plus rejected the bonus as a substitute for a salary increase and awaits further talks with the president; no agreement on wage hikes has been reached.

• The government wage bill has tripled from SRD 300 million to SRD 1 billion, posing financial challenges, but Raghoebarsing assured that all payments will be made this month.

• The payment has led to a lot of criticism that the payment is due to the closeness to the election and has electoral motives.

The governing party, the VHP, has distributed letters for building plots in the district of Saramacca. However, the handling of this distribution has led to criticism within the party.

• VHP Assembly member Mahinder Jogi calls the distribution of letters for building plots in Jarikaba "pure deception and bad governance," stating they hold no legal value.

• Jogi points out that the requirements for land issuance were not met — no allocation plan, no approval from the Ministry of Land Policy (GBB), no land inspection advice, and no formal statements.

• President Santokhi was initially expected to distribute the 1,000 FAI plots, but left before the event. His involvement sparked backlash, as he had previously halted the FAI project.

• Jogi highlights that FAI still has millions in outstanding debt and questions how it can issue land without resolving its legal and financial obligations.

• With elections just nine days away, Jogi accuses the government of misleading the public with empty promises and symbolic letters that can't be acted upon.

• Jogi praises Minister Dinotha Vorswijk of GBB for distancing herself from the process, stressing that land distribution must follow strict procedures and involve all responsible institutions.

Staatsolie represents a good economic indicator for the future of the Surinamese oil and gas sector.

• Staatsolie signed a US$ 1.6 billion loan with 18 international, regional, and local banks.

• The loan will finance Staatsolie’s 20% stake in the GranMorgu offshore project (Block 58).

• It will also be used to fully repay an existing US$ 130 million debt. Funding for the project comes from the loan, internal reserves, revenues, and bonds issued in March 2025.

• Staatsolie secured the loan due to its strong financial reputation and governance.

• The move supports Staatsolie’s goal to remain a key player in Suriname’s energy sector and pursue future growth.

The Central Bank of Suriname clarifies that currency auctions are for controlling the supply of money, rather than lowering exchange rates in the country.

• The Central Bank of Suriname (CBvS) conducts currency auctions under strict IMF-agreed monetary rules to control money supply, not to lower exchange rates.

• Interventions are rule-based with a “trigger point” determined by data, replacing previous arbitrary interventions.

• The Surinamese currency market is unique and complex, with residents freely buying and selling currency while seeking rate stability.

• CBvS coordinates closely with the Ministry of Finance to manage government spending impacts on liquidity and monetary policy.

• Open Market Operations (OMOs) are used to absorb excess liquidity, helping to control inflation and moderate bank lending rates (now much lower than before).

• Currency auctions are transparent, accessible only to supervised institutions, with resale margins capped to limit speculation.