Happy Monday!

This week we cover the three Surinamese banks being followed by the Dutch Prosecutor’s Office (OM) for money laundering, addressing flooding in the country and increasing robberies and burglaries in the country.

Three big Surinamese banks, the DSB (De Surinaamsche Bank), Hakrinbank, and the Finabank have once again been brought to the Dutch Public Prosecutor’s Office (OM), a case they have previously appealed twice and won.

• DSB, Hakrinbank, and Finabank have stated that no prosecution has been initiated against them by the Dutch Public Prosecutor's Office (OM).

• The complaint procedure regarding the OM seizing 19.5 million euros that was transported by the Central Bank of Suriname (CBvS) in 2018 will continue.

• The three banks filed the complaint with CBvS against OM with the third hearing recently held by the Court of Appeal in The Hague.

• The case has been previously decided twice in favor of the banks, with the Supreme Court requesting further review on detailed points.

• The banks remain optimistic about the outcome, with the Court of Appeal's ruling scheduled for August 6, 2024.

The case was further discussed in the National Assembly this week.

• During discussions on new Money Laundering and Terrorism Financing laws, the seizure of 19.5 million euros by Dutch authorities in 2018 was addressed.

• Assembly member Stephen Tsang (NDP) questioned whether Surinamese banks are being prosecuted for money laundering and criticized the Dutch Public Prosecutor's Office (OM) for not involving Surinamese authorities.

• Tsang and other members highlighted the negative impact on Suriname's economy and international reputation, seeking clarity and government action against the Dutch OM's jurisdiction and actions.

• Furthermore, fellow NDP party member Rabin Parmessar suggested the money seizure aimed to influence the 2020 elections to oust the NDP, while other members emphasized the need for government transparency and swift action.

• VHP faction leader Asis Gajadien dismissed conspiracy theories, arguing that transparency would have prevented the seizure and noting that other transactions were conducted without issues post-elections.

Parliament members have raised concerns about flooding in the country.

• Assembly members raised urgent concerns about flooding, highlighting significant damage and disruption to daily life.

• Edgar Sampie (ABOP/PL) recounted an incident where a five-meter snake was removed from a flooded area and mentioned residents' protests in Ephraimzegen due to neglected ditches.

• Ivanildo Plein (NPS) and Asis Gajadien (VHP) criticized the lack of regular maintenance and questioned the responsibility of the Minister of Finance & Planning.

• Gajadien emphasized the need for compensation for those affected by waterlogging and the flooding of agricultural areas.

• The government has yet to respond to questions raised, but Minister Krishna Mathoera promised answers in the future.

Suriname’s Minister of Justice and Police met with the police leadership to address increased burglaries and robberies.

• They discussed implementing additional measures to curb rising crime rates, with a focus on community safety.

• Amoksi highlighted recent incidents, prompting a review of strategies involving various officials to enhance security efforts.

• Efforts include improving police capacity through training initiatives, both domestically and internationally.

• Police Chief Bryan Isaacs affirmed plans to implement Minister Amoksi's directives promptly, addressing logistical challenges and continuing successful operations like "Operation Zero Tolerance."

Suriname’s inflation numbers continue to go down year on year as Suriname recovers from its economic crisis.

• Inflation was 18.6% at the end of May compared to May last year.

• Consumer prices rose by 0.5% in May and by 0.7% in April.

• The ABS reported that consumer prices increased by 20.9% from April 2023 to April 2024.

• The IMF and the government expect average inflation to be around 14.5% this year, with monthly inflation not exceeding 1%.

• Inflation rates were 32.6% in 2023, 54.6% in 2022, and around 60% in 2020 and 2021.

• The recovery program aims to stabilize the exchange rate and reduce inflation to an acceptable level, with the exchange rate remaining stable recently.