Suriname’s Ministry of Finance has announced that approximately $180 million from its recently expanded $265 million state bond will be directed toward critical social and economic development projects. Finance Minister Adelien Wijnerman detailed the allocation during a press conference on Friday, emphasizing that these funds are specifically earmarked for capital investments rather than operational expenses like salaries or subsidies.
The 10-year bond extension, maturing in 2035 and carrying an 8.5% interest rate, has already been deposited into a dedicated account. These resources are strictly designated for pre-approved initiatives across several key sectors:
– Healthcare: Strengthening hospital infrastructure, enhancing primary care services, and improving access to essential medicines
– Education: Renovating school facilities, upgrading sanitation systems, and implementing digital learning support
– Government Digitalization: Modernizing public services while increasing transparency and revenue collection capabilities
– Agriculture and Food Security: Boosting agro-processing capabilities and reinforcing local production systems
– SME and Youth Programs: Creating financing opportunities for emerging entrepreneurs
– Energy and Basic Utilities: Supporting improved energy and drinking water infrastructure for schools and healthcare institutions
While exact sectoral distributions remain under discussion, Minister Wijnerman confirmed that project specifications are being finalized in collaboration with relevant ministries.
A portion of the total bond amount will address outstanding commercial debts, allowing the government to further reduce previous obligations. The bond’s semi-annual interest payments amount to approximately $11.3 million, with the first payment scheduled for May 2026. Notably, interest payments for the initial 2.5 years have been incorporated into the borrowed amount, meaning they will be drawn from the reserved special account rather than impacting the current operational budget.
Minister Wijnerman defended the strategic timing of these investments, stating they are essential for strengthening social infrastructure ahead of anticipated oil revenues expected from 2028 onward. Although the bond expansion increases the national debt burden, the minister emphasized that previous refinancing operations and extended repayment terms have created additional fiscal space for these development priorities.