Carib Scope

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  • Saint Lucian receives Veteran of the Year award in Britain

    Saint Lucian receives Veteran of the Year award in Britain

    Last week, at the annual Leavers to Leaders (LTL) Awards held during the LTL Summit in Tidworth, Wiltshire, England, a remarkable retired British Army leader claimed one of the event’s highest honors. Lester Francois, a 24-year veteran of the force who climbed from humble beginnings to the rank of Warrant Officer Class One, was officially named Veteran of the Year, capping a decades-long career defined by service, excellence, and selfless contribution.

    Born in La Fargue Choiseul and raised in La Ressource, Vieux Fort on the Caribbean island of Saint Lucia, Francois moved to the United Kingdom in 2002 after being recruited into the British Army. He began his service within the Royal Logistic Corps as a supply specialist, and through consistent determination, sharp professionalism, standout leadership, and an unwavering dedication to his duties, he steadily rose through the ranks. Statistics from his era show only roughly 25 percent of recruits achieve the top rank of Warrant Officer Class One, making Francois’ ascent all the more notable. Over his 24-year career, he earned 10 service medals and multiple commendations in recognition of his outstanding work, and completed deployments across 10 countries and regions, including Germany, Cyprus, Nigeria, Canada, Iraq, Afghanistan, The Gambia, and Belgium. He also served a tour as a United Nations peacekeeper in Cyprus, an experience that broadened his global perspective.

    The LTL Awards were created to honor extraordinary contributions from service leavers, veterans, and members of the military community across the United Kingdom and the entire Commonwealth. This year’s ceremony gathered nominees from nine different Commonwealth nations, including Saint Lucia, St. Vincent and the Grenadines, Fiji, Ghana, Guyana, and Mauritius, shining a spotlight on the often-unrecognized work of Commonwealth veterans in British service.

    Francois admitted he never expected the recognition, telling local Saint Lucian outlet St. Lucia Times: “I was quite surprised when I heard that I was nominated for the award of veteran of the year and even more surprised to have actually won the award. As a Saint Lucian, it was quite an honour, knowing that I came from a small island, started at the bottom and moved to the top.”

    Looking back on his decades in uniform, Francois said military service shaped him profoundly, forging his personal character, building unshakable discipline, motivating him to pursue constant growth, and expanding his understanding of the world. Even before his retirement, and increasingly since he left active service, Francois has dedicated himself to lifting up other members of the military community. He prioritizes mentoring younger officers, working to build their confidence and help them navigate their own career paths. “Encouraging younger officers and helping them build their self-confidence is something I love to do,” he said.

    His community work extends far beyond mentoring young service members. Affectionately known by the nickname “Various Boss,” Francois founded Various Boss Entertainment, an initiative designed to connect veterans through social and community-focused events. What started as small, casual gatherings – domino nights and barbecues for fellow veterans – quickly grew after a suggestion from his wife. “My wife used to say to me, ‘Some of what you are doing attracts the grown-ups; why not do something to bring families together?’ That’s where the family events started,” explained the father of three. Today, the organization hosts large brunches and family fun days that bring together veterans, their families, and active younger service members, creating space for intergenerational connection, shared learning, and relaxed enjoyment.

    Peers and friends describe Francois as a humble, wise leader whose positive impact on his community stretches far beyond his military career. He is widely celebrated as a role model for younger generations, embodying core values of discipline, resilience, service, inclusivity, and the importance of giving back to one’s community. His willingness to share hard-won experience and offer thoughtful guidance has left a lasting impression on everyone who has worked with him, making him a clear and beloved choice for the 2026 award.

    Now in retirement, Francois keeps a full schedule, and is finally able to enjoy leisure travel without the uncertainty of military deployments. He has already enjoyed trips to this year’s carnivals in St. Vincent and his native Saint Lucia, as well as a vacation to Mexico, and he plans to return to his home island in the near future – a place he says will always hold his heart.

  • BCC, union set to meet

    BCC, union set to meet

    A critical conversation focused on unresolved staffing tensions is scheduled to take place this Monday between leadership of the Barbados Community College (BCC) and representatives of the National Union of Public Workers (NUPW), the higher education institution has confirmed publicly.

    Following receipt of a formal correspondence from the NUPW detailing the union’s official stance on ongoing workplace issues, BCC extended an invitation to union leaders to sit down for a structured, solution-focused discussion. The talks are slated to begin at 10 a.m. local time on the college’s Eyrie Campus, according to an official statement released by the institution.

    The dispute stems from a recent administrative decision by BCC to end the appointments of multiple employees who were working on extended fixed-term employment contracts. In response to that move, the NUPW has formally categorized the conflict as a labor dispute and is pushing for the immediate reinstatement of all affected staff members.

  • Over 1,000 Conch Seized Two Days Before Season Opened

    Over 1,000 Conch Seized Two Days Before Season Opened

    In a joint enforcement operation just days ahead of the 2026 conch fishing season opening, Belizean fisheries authorities, alongside the Belize Coast Guard and Belize Audubon Society, have seized 1,086 illegally harvested conch from a storage facility on Sandbore Caye, located within the protected Lighthouse Reef Atoll Marine Reserve. The contraband, packed into two large iceboxes, was discovered during a routine proactive patrol on September 29, 2026 – a mere 48 hours before the legal fishing season was set to begin on October 1. One individual has already been charged with possession of conch during the mandated closed season, in violation of the country’s Fisheries Resources Act. The identity of the accused has not been released to the public as the case moves through the judicial system. To support long-term conservation of Belize’s vulnerable conch populations, the national government enforces a strict closed season every year, running from July 1 through September 30. This three-month moratorium is designed to allow conch stocks to reproduce and replenish their numbers, reversing decades of overfishing that have threatened the ecologically and economically important species across the Caribbean. During the closed period, all activities involving conch – including harvesting, purchase, sale, and personal possession – are classified as illegal under Belizean law. Beyond the direct harm to marine ecosystem health and biodiversity that illegal poaching causes, the Belize Fisheries Department emphasized that violations of the closed season rule also create unfairness for law-abiding small-scale fisherfolk across the country. These legitimate operators rely on healthy conch populations for their livelihoods, and sacrifice three months of income each year to help sustain the fishery for future generations. Poaching that occurs right before the season opens undercuts these compliant fishermen, eroding the shared benefits of the conservation framework that all stakeholders depend on. The Lighthouse Reef Atoll Marine Reserve, home to the famous Blue Hole natural landmark, is one of Belize’s most tightly protected marine areas, established to safeguard critical coral reef habitat and commercially important fish and invertebrate populations. Authorities say they will continue ramping up joint patrols in protected zones throughout the open conch season to deter further illegal activity and protect the nation’s marine natural resources.

  • Trans Guyana Airways prepares for scheduled flights to French Guiana

    Trans Guyana Airways prepares for scheduled flights to French Guiana

    In a move that promises to reshape regional connectivity and unlock new economic opportunities across the Guiana Shield, Trans Guyana Airways (TGA) announced Saturday it has been formally designated as the Guyanese airline to operate scheduled commercial services between Guyana and French Guiana. This designation comes on the heels of the signing of a modernized bilateral air services agreement between the governments of Guyana and France, replacing an outdated framework that has been in place for half a century.

    The updated agreement was signed by Guyana’s Aviation Minister Deodat Indar and France’s Ambassador to Guyana Olivier Plançon on the sidelines of the recently concluded ICAO/EASA 3rd Global RSOO/RAIO Forum for Aviation Safety, which Guyana hosted. The 50-year-old original agreement, signed back in 1976, is being retired to make way for a contemporary regulatory structure that addresses 21st-century needs for passenger and cargo transportation, while also creating formal pathways for commercial cooperation between airlines from both nations, including code-sharing partnerships and collaborative marketing initiatives.

    With thousands of Guyanese nationals already residing in French Guiana, the new air link addresses a long-standing gap in regional connectivity. Currently, overland travel between Georgetown, Guyana’s capital, and Cayenne, the capital of French Guiana, can take up to 24 hours via surface transport. TGA’s new non-stop air service will slash that journey to just 75 minutes, dramatically cutting travel time for personal, business, and cargo movements.

    TGA has already initiated administrative and regulatory coordination with relevant civil aviation authorities on both sides to launch the service, which is planned to operate at least two weekly non-stop rotations between Georgetown and Cayenne, pending final regulatory approvals. Beyond the immediate benefit of reduced travel time, TGA executives note that the new route will open up significant onward connectivity opportunities for Guyanese travelers and traders through Air France and other airlines that operate out of Cayenne, strengthening ties between Guyana, the French Caribbean, Europe, and other global markets.

    The airline projects that the new air link will stimulate two-way growth across key sectors: tourism will receive a boost as visitors gain easier access to both destinations, while business travel, cross-border investment, and bilateral trade will all expand as the movement of goods and people becomes more efficient across the Guiana Shield. TGA emphasized that the agreement is a landmark example of effective public-private partnership in action: the Guyanese government’s proactive aviation diplomacy and policy leadership opened the market and established the international regulatory framework, while the private sector will now invest in infrastructure, operations, and marketing to deliver tangible benefits including new jobs, improved connectivity, and broad-based economic value.
    “By modernizing the bilateral framework and creating new market access, the government has opened a tangible commercial opportunity for a local operator to expand its international footprint, develop a new route, and contribute directly to greater regional connectivity,” the airline said in its official statement. TGA also noted that the successful signing of the agreement during a major international aviation summit hosted by Guyana demonstrates that meaningful international engagement can translate beyond dialogue to real, actionable benefits for local businesses, everyday travelers, and the national economy as a whole. The airline looks forward to launching the service and delivering on the promise of the new agreement, building an air bridge that brings Guyana and French Guiana closer and creates shared opportunities for people, businesses, and the entire region.

  • Two Dead in Separate Crashes

    Two Dead in Separate Crashes

    Communities across central Belize are grappling with grief following two unrelated deadly traffic accidents that occurred on October 3, 2026, claiming the lives of two men in the Cayo and Stann Creek Districts respectively.

    The first fatal incident unfolded just after 4 p.m. Friday along the Hummingbird Highway, in close proximity to Belmopan’s La Cabana Bar. Chad Anton Borland, a 28-year-old described by loved ones as a wonderful young man, lost his life when the black Mazda he was traveling in veered off the roadway while heading from the Belmopan roundabout toward the community of Armenia. First responders arriving at the scene found the vehicle 150 feet off the highway, heavily damaged in dense roadside brush, with Borland lying on the ground. He was immediately transported by emergency personnel to the Western Regional Hospital, where medical teams were unable to save him and later pronounced him dead.

    In addition to Borland, 28-year-old Jeffrey Perez was also injured in the crash, sustaining wounds to the back of his head. As of the initial reporting, no further updates on Perez’s condition have been released, and police continue to piece together the full sequence of events that led to the vehicle leaving the highway.

    In a separate tragedy unfolding along the Coastal Road hours later, a second motorist lost his life in a collision between a small sport utility vehicle and a heavy-duty cargo truck. Ramzi Asaad, a father whose age has not been released in initial reports, was traveling from Belize City en route to Dangriga when the fatal crash occurred. Photographs from the accident scene show both vehicles positioned at the crash site, though details on the cause of the collision and any additional injuries have not yet been disclosed by authorities.

    Local law enforcement has not yet announced any additional findings from ongoing investigations into both crashes, and families have begun the process of mourning their losses as community members extend condolences to those affected.

  • Trans Anguilla Airways Expands in St. Kitts and Nevis

    Trans Anguilla Airways Expands in St. Kitts and Nevis

    On September 30, regional Caribbean carrier Trans Anguilla Airways celebrated the official opening of its new fixed office at Robert L. Bradshaw International Airport in Basseterre, St. Kitts and Nevis, marking a major milestone in the homegrown airline’s 26-year history of serving the Eastern Caribbean. The expansion formalizes the carrier’s long-standing presence in the federation, where it has operated scheduled flights since 2013.

    The ribbon-cutting ceremony brought together senior public and private sector stakeholders from across both Anguilla and St. Kitts and Nevis. Attendees included Acting Prime Minister of St. Kitts and Nevis Dr. Geoffrey Hanley, Anguilla’s Minister of Health, Tourism and Sports Cardigan Connor, CEO of the St. Christopher Air & Sea Ports Authority Adeola Moore, CEO of the St. Kitts Tourism Authority Kelly Fontenelle, Trans Anguilla Airways Managing Director Vernol Gumbs and Captain Tony Webster, along with other senior government and tourism officials from both jurisdictions. The new office officially began operations on October 1.

    In his keynote address at the ceremony, Minister Connor emphasized that expanded regional air links are far more than infrastructure for small island developing states across the Caribbean — they are a foundational economic lifeline that sustains multiple core sectors. “For small island states such as ours, air connectivity is not simply about getting from one destination to another. It is an economic lifeline,” Connor stated. “It supports tourism. It facilitates business and trade. It connects families. And equally important, it allows Caribbean people and our visitors to experience more of our region with greater ease.”
    Connor added that the expansion of Trans Anguilla Airways, a fully Anguillian-owned independent carrier, serves as a powerful example of how Caribbean-rooted businesses can scale beyond their home borders while retaining their deep ties to the local communities they serve. He further noted that the new office is a tangible show of confidence in St. Kitts and Nevis’ growing travel and commerce ecosystem, and represents a continued commitment to investing in resilient, locally led Caribbean air connectivity.
    Founded 26 years ago, Trans Anguilla Airways has built a reputation for reliable short-haul service across the Eastern Caribbean, connecting neighboring island nations and supporting the flow of tourism, commerce, and personal travel that keeps regional economies interconnected. Industry observers note that the expansion comes as Caribbean destinations work to strengthen intra-regional travel, a key strategy to build more resilient tourism sectors and strengthen economic integration across small island states.

  • Public Backs Jennings Secondary’s Lockdown Drill Despite Ministry’s Criticism

    Public Backs Jennings Secondary’s Lockdown Drill Despite Ministry’s Criticism

    A controversial unauthorized active threat lockdown drill at Antigua’s Jennings Secondary School has sparked widespread public debate, with a clear majority of public commenters throwing their support behind the school’s proactive approach to student safety, even as the nation’s Ministry of Education has disavowed the unapproved exercise.

    When footage of the realistic drill first circulated online, it triggered immediate alarm among community members who feared an active security incident was unfolding at the campus. But as context of the simulation spread, hundreds of public responses to local outlet Antigua News Room’s reporting tilted heavily toward defending the school’s choice to run the preparedness exercise, with pro-drill comments earning far more engagement than critical takes.

    Suppoters of the drill framed the decision as a necessary response to rising unrest and youth violence across Antigua and Barbuda, arguing that real emergencies never arrive with official pre-approval. Keturah EL Roi Tannis summed up this perspective in a top-commented post that garnered 40 likes, writing “AKA with all the chaos with youths in Antigua, Jennings school is Proactive.”

    Shawnor Charles, whose comment earned 28 likes, echoed that sentiment, pushing back against the Ministry of Education’s rebuke: “Education ministry needs to be grateful that some thought the way he should be thinking. The real thing ain’t authorized neither. Preparedness is what matters.” Other proponents noted that unscripted, realistic drills are the only way to generate accurate data on how staff and students will respond under pressure. Theron Floyd, whose comment received 17 likes, argued “That’s what its about. That’s a real test, only how you get real answers.”

    Some commenters went even further, praising the drill as an innovative example that all local schools should follow. Alfa Omega called the exercise a “brilliant idea,” quipping that “The ministry vex because they couldn’t come up with such a brilliant idea! These are some things that should be taught in school. Endorsed!” Sonia George echoed that label, noting that recent high-profile safety events have made constant vigilance a necessity for students, teachers and caregivers alike. Multiple commenters also directed scrutiny toward the Ministry of Education, questioning how much formal emergency preparedness training the agency actually provides to schools across the country. Saran Purcell-Douglas, whose comment referenced active shooter response, bomb threat protocols and situational awareness, asked when the ministry last organized a similar drill for staff and students, earning 24 likes for the question.

    While broad public support for the drill’s core goal of student preparedness is clear, the exercise has not avoided all criticism. The most common critique from even moderate supporters is that the school failed to notify parents of the drill in advance, and the extreme realism of the simulation caused avoidable fear and panic. One parent, Latoya Joseph Pelle, acknowledged understanding the school’s intent but noted “Video nearly kill me. Only thing I wanted was a heads up.. that’s it.”

    A smaller share of commenters voiced outright opposition to the unapproved drill. Alexia Jones dismissed the exercise as “Utter NONSENSE,” questioning what educational value students could gain from being thrown into unannounced chaos. Blondell Deazle shared that the out-of-context footage left her terrified for her grandson who attends the school, warning that panicked family members could have rushed to the campus thinking a real attack was underway. A small number of commenters, including Chauncey Alfred, called for disciplinary action against the school’s principal, while others echoed the ministry’s position that drills of this nature require official pre-approval.

    After the controversy erupted, Principal Rody Christopher released a public letter to parents confirming the event was a drill designed to teach students how to stay safe in the event of an intruder on campus. He acknowledged that the exercise had led to confusion and misunderstanding for some community members, emphasizing “Please be assured that all is well and we have the best interest of your child / ward in mind.”

    The Ministry of Education, Science and Technology quickly issued a public statement clarifying that no actual armed incident had occurred at Jennings Secondary or any other school in Antigua and Barbuda, and formally distanced itself from the unauthorized exercise. “The Ministry wishes to make clear that this exercise was not authorized. It was planned and carried out without the knowledge or permission of the Ministry of Education, Science and Technology,” the agency said.

    While ministry officials confirmed they view emergency preparedness drills as a critical component of school safety, they noted that all such exercises require prior official approval, clear proactive communication with stakeholders, and careful coordination to avoid unnecessary distress and misunderstanding. “Neither was in place on this occasion,” the statement said. The ministry also issued a formal apology for the “alarm and panic” experienced by students, parents and community members who did not initially recognize the event was a simulation.

    Despite the official rebuke from the education ministry, public reaction to the drill reveals a broader consensus that prioritizes student safety preparedness amid growing concerns about youth violence and crime across Antigua and Barbuda. The core division emerging from the public debate is not over whether schools should prepare students for violent security threats, but rather over how these exercises should be structured, which stakeholders must be notified in advance, and how much realism is appropriate for campus preparedness training.

  • Think Before You Press Send: Jeffers Urges Greater Care in Workplace Communication

    Think Before You Press Send: Jeffers Urges Greater Care in Workplace Communication

    In a recent address to regional human resources and workplace culture professionals, organizational communication specialist Clara Jeffers has issued a fresh call for workers at all career levels to pause and reflect before hitting send on professional messages, warning that hasty digital communication has become a leading source of unnecessary tension and misinterpretation in modern workplaces.

    Against the backdrop of a widespread shift to hybrid and remote work models over the past five years, the volume of written digital communication — from instant team chat messages to formal emails — has surged by more than 60% according to recent data from the Global Workforce Institute. Jeffers notes that this rapid increase has encouraged impulsive messaging, with many workers firing off responses in the heat of the moment without accounting for how tone, wording, or context can be misread by recipients who lack the benefit of in-person facial cues or vocal inflection.

    “We’ve grown accustomed to instant response times that leave little room for reflection,” Jeffers told attendees at the annual Workplace Culture Summit held in Boston this week. “A one-sentence chat message sent in frustration after a missed deadline can escalate into a weeks-long rift between team members that derails entire projects, all because the sender didn’t take 30 seconds to consider how it would land on the other person’s screen.”

    Jeffers is not calling for a full slowdown of workplace communication, nor is she pushing for overly formal messaging that kills collaborative spontaneity. Instead, she recommends simple actionable habits: stepping away from a message for 10 minutes if you’re writing while upset, reading all messages out loud to yourself before sending to catch awkward phrasing, and opting for a quick video call instead of a long text chain when discussing sensitive topics.

    Early data from companies that have implemented these deliberate communication practices shows a 28% drop in reported team conflict and a 12% increase in project completion rates, according to a pilot study Jeffers led earlier this year. Proponents of the approach argue that small changes to communication habits can yield major improvements to overall workplace mental health and productivity, particularly in distributed teams that rely almost entirely on digital interaction.

  • Caribbean pushes for stronger cooperation on aviation safety

    Caribbean pushes for stronger cooperation on aviation safety

    Against a backdrop of growing global regulatory demands and persistent resource constraints, Caribbean nations have received a clear call to translate decades of talk about regional aviation cooperation into a tangible, actionable system for pooling expertise, sharing resources, and dividing collective responsibility. The push for concrete progress came during a one-day regional aviation symposium held in Georgetown, Guyana, which brought together more than 70 senior representatives from across the region and key global aviation stakeholders to map out a path forward for strengthening regional flight safety.

    Organized jointly by the CARICOM Secretariat and the International Civil Aviation Organization (ICAO), and hosted by the Government of Guyana and the Guyana Civil Aviation Authority at the Arthur Chung Convention Centre, the symposium centered on the theme “Strengthening Caribbean Aviation Safety: Regional Cooperation, Resilient Oversight and Sustainable Capacity Development.” A core focus of the gathering was the Caribbean Aviation Safety and Security Oversight System (CASSOS), a CARICOM-specific body created to help small member states meet rigorous international aviation standards that are often unmanageable for small national administrations to maintain independently.

    During the event, participants conducted a detailed review of the draft CASSOS Roadmap and Action Matrix, a strategic plan extending to 2035 that addresses key priorities including long-term financial and operational sustainability for national civil aviation authorities, harmonization of cross-border regulatory frameworks, expansion of air transport services under the existing Multilateral Air Services Agreement, clear implementation timelines, sustainable financing structures, and ongoing performance monitoring.

    A broad range of stakeholders contributed perspectives to the discussion, from major international and regional partners including ICAO, the European Union Aviation Safety Agency, the United States Federal Aviation Administration, Transport Canada, and the United Kingdom, which outlined their ongoing and future support for regional safety cooperation, to representatives from commercial airlines, private sector aviation entities, and national revenue authorities, who brought critical industry-focused insights to the table.

    Opening ceremony speakers emphasized a fundamental, often overlooked inequity in global aviation regulation: Caribbean nations are bound by the exact same international safety obligations as much larger, more economically powerful countries, despite operating with far smaller administrative bodies and severely constrained financial and human resources. Retired Brigadier Mark Phillips, Prime Minister of Guyana, underscored the implicit trust that passengers place in regional aviation systems, regardless of their size.

    “A passenger may never see an inspection record or know the name of the controller guiding a flight. That passenger has every right to expect that the work has been done. Our responsibility is to make that confidence deserved,” Phillips told attendees.

    Deodat Indar, Guyana’s Minister of Public Utilities and Aviation, doubled down on the call for urgent action, arguing that the region has spent too long treating regional cooperation as a distant goal rather than a core operating principle. “The decision before us is whether regional cooperation will remain an aspiration or become the operating principle of Caribbean aviation. Let us choose action,” Indar said.

    CARICOM Secretary-General Dr. Carla Barnett framed regional cooperation not as an option, but a necessity, driven by mounting regulatory requirements, rapid technological change, persistent workforce shortages, and ongoing financial pressure. She also emphasized that reliable air connectivity is the backbone of economic and social life for the Caribbean’s small island and low-lying coastal states, underpinning critical sectors from tourism and trade to investment, supporting emergency disaster response, maintaining cross-border family connections, and advancing broader regional integration goals.

    Luis Fernando Fiallos, ICAO’s Regional Director for South America, addressed common concerns that regional cooperation arrangements would undermine national sovereignty, clarifying that collective action actually strengthens member states’ ability to meet their obligations. “Under the Chicago Convention, ultimate responsibility for safety oversight rests with each sovereign State. Yet regional arrangements do not diminish sovereignty; they reinforce it,” Fiallos explained.

    William Ashby, a representative from the Caribbean Development Bank, closed out key opening remarks by reiterating the core challenge the region faces: meeting stringent global safety standards when operating with limited specialized technical capacity and small, fragmented national aviation markets that make independent investment in infrastructure and training economically unviable.

  • Overheid wil weer schatkistpapier uitgeven voor lopende uitgaven

    Overheid wil weer schatkistpapier uitgeven voor lopende uitgaven

    Against a backdrop of persistently high foreign currency exposure in its national debt portfolio, the Surinamese government has laid out an ambitious strategy in its 2027 State Debt Plan: restarting domestic treasury bill issuance to fund current public expenditures, while laying the groundwork for a more robust local money and capital market that will reduce long-term reliance on cross-border financing.

    The framework acknowledges that in the medium term, most government financing gaps will still need to be covered by foreign loans, but the gradual development of a domestic debt market is a core policy priority moving forward. Under the plan, the government will resume issuing short-dated, small-volume treasury bills – short-term debt instruments that allow commercial banks, financial institutions and domestic investors to lend directly to the state – specifically to cover routine public spending. Policymakers emphasize that building out the local capital market and investor confidence in the government as a borrower must proceed gradually and carefully to avoid market disruption.

    The long-term policy goal is to expand the role of the domestic market in funding public debt. Officials project that over approximately two years of steady market development, the domestic market will gain enough capacity to absorb a larger share of future government financing shortfalls. A key secondary benefit of this shift is a gradual reduction in currency risk for the national debt portfolio – a pressing vulnerability for Suriname, where current medium-term debt strategy data shows 86.8% of total public debt is denominated in foreign currencies. Borrowing in Surinamese dollars (SRD) directly cuts the country’s exposure to exchange rate volatility that has strained public budgets in past years.

    The policy shift comes at a critical fiscal juncture: the government has projected a 2027 budget deficit of roughly 10.8 billion SRD, which will be funded through a combination of existing foreign loans, new domestic and international borrowing, and the nascent development of the local capital market. While the 2027 State Debt Plan confirms the government’s intention to start with small issuance volumes and short tenors, it does not yet specify the total volume of treasury bills to be issued, exact maturity dates, or final interest rates for the upcoming issuance.

    It is worth noting that the transition to domestic SRD-denominated borrowing comes with a near-term trade-off: currently, local currency borrowing carries significantly higher interest costs than foreign borrowing. The medium-term debt strategy estimates an average interest rate of 9% for SRD-denominated debt, compared to just 5.7% for foreign currency-denominated liabilities. Despite this higher near-term cost, policymakers view the development of a domestic debt market as a critical long-term investment to strengthen fiscal resilience and reduce the country’s vulnerability to external currency shocks.