🧑‍🏫 Teachers can no longer make ends meet

Happy Monday!

This week teachers are striking due to missed payments and low salary, unrest at Zijin mines caused by illegal gold miners, and the IMF warns of wrong fiscal decisions made by Simons government

Striking BLTO demands resignation of Education Minister and board members

• The Union of Teachers in Technical Education (BLTO) has demanded the immediate resignation of the Education Minister and two senior education officials, submitting a petition directly to President Jennifer Simons.

• President Simons refused to commit to resignations but said she is willing to immediately address other urgent issues raised, including overdue overtime payments dating back to November 2025.

• BLTO-affiliated teachers began their fifth strike, citing chronic late payments, unpaid overtime, ignored court rulings, poor management, deteriorating school conditions, and neglect of vocational education.

• The union is calling for a new, competent education minister, the immediate creation of a rescue team, and guarantees that all salaries and allowances will be paid correctly by January 31.

• Teachers also demand a comprehensive revaluation of the profession, stating that current salaries are insufficient to live on.

• President Simons urged teachers to return to work for the sake of students and promised action on safety, hygiene, facilities, and overdue payments, but ruled out guaranteeing salary increases citing issues of runaway inflation

• Teachers refused to resume work, expressing deep mistrust in government promises and saying past assurances have never resolved the structural problems.

• Broader teacher unions warn the situation has reached a critical level, with declining living standards causing severe demotivation, brain drain, and widespread teacher shortages.

• Talks between unions, the president, and ministers led to the creation of a working group involving unions and a presidential commission to address education issues, including wage ratios.

• Clear deadlines were set for paying all outstanding and overtime payments by early February 2026, submitting union demands, and improving teachers’ living and working conditions to ensure industrial stability.

Illegal gold miner dies at Zijin Rosebel; mining machinery set on fire - damage estimated at US$12.5 million

• An illegal gold miner was killed at Zijin Rosebel Gold Mines, after which unrest erupted and several mining machines and properties were set on fire.

• Police deployed multiple units to restore order, but the situation at and around the mine became highly volatile and difficult to control.

• The exact circumstances of the miner’s death are under investigation, though authorities confirmed it occurred during an evacuation attempt in an unsafe mining area.

• Minister of Natural Resources David Abiamofo called the incident unacceptable and very serious, stressing that safety at the mine is a top priority.

• Damage from the destruction is provisionally estimated at about US$12.5 million, and gold production has been temporarily halted, causing losses for both the company and the state.

• Authorities reported that dozens of illegal intruders were still present in the area, and a full “clean sweep” is being considered to restore safety and order.

• A government delegation of key ministers will visit Brokopondo to assess the situation on site and consult with the company and other stakeholders.

• The minister emphasized that illegal mining has been a long-standing problem, made worse by large concessions overlapping with village communities, and that recent incidents fall outside existing agreements with local miners.

• Rosebel Gold Mines employs about 1,600 people directly and supports roughly 3,000 additional jobs, with the state legally responsible for maintaining peace and security in the concession area.

• Following the fatal incident, tensions escalated into violence against company property and police, prompting reinforcement by police and army units, with ministers stressing that restoring peace and safety is the immediate priority while longer-term solutions are discussed.

IMF: Suriname must correct course to maintain stability in the run-up to the oil boom

• The IMF warns that fiscal and monetary policy slippages in 2025 have largely reversed Suriname’s recent gains in macroeconomic stability, despite earlier progress under the IMF program.

• Economic growth remains moderate in the short term but is slowing due to declining gold production, while inflation has returned to double digits and the SRD has weakened.

• Government debt has risen to about 106% of GDP, cash buffers have declined, and the current account deficit is projected to exceed 30% of GDP due to oil-related imports financed by FDI.

• Optimism around offshore oil development supports medium-term growth, with non-resource growth expected at 4.7% in 2026 and a potential growth surge once oil production begins.

• The IMF urges an urgent restoration of fiscal discipline, including a major fiscal adjustment in 2026 through higher primary surpluses, wage restraint, subsidy reform, and tax-base expansion.

• Strong institutions and full implementation of public financial management and Sovereign Wealth Fund laws are deemed essential for transparent and accountable management of future oil revenues.

• Tighter monetary policy, stronger central bank operations, limited exchange-rate intervention, and enhanced financial supervision are recommended to curb inflation and financial risks.

• Inflation stood at 11.4% year-on-year in December 2025, with high food, housing, and healthcare costs eroding purchasing power, even though price increases have slowed compared to earlier years.