Dam debt: Understanding the dynamics of Suriname’s debt crisis

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Dam debt: Understanding the dynamics of Suriname’s debt crisis

22 January 2021 by Eurodad , Daniel Munevar

Paramaribo, Suriname (CC - Wikimedia)

In November 2020, Suriname joined ranks with Zambia, becoming the second country to default on its sovereign debt in the aftermath of Covid-19. In this briefing, we explore the origins of Suriname’s debt crisis and highlights the substantial challenges faced by the country to overcome it.

This briefing explores the origins of Suriname’s debt crisis and highlights the substantial challenges faced by the country to overcome it. The analysis is structured as follows.

The first section provides an overview of the historical roots of the debt problems in Suriname.
Sections two and three describe the context and details of the two series of Eurobonds issued by the country in 2016 and 2019.
Section four analyses the context of Suriname’s default and provides an overview of the challenges faced by the country.
Section five concludes with policy recommendations.

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Source: Eurodad

Author

Eurodad

Author

Daniel Munevar

is a post-Keynesian economist from Bogotá, Colombia. From March to July 2015, he worked as an assistant to former Greek Finance Minister Yanis Varoufakis, advising him on fiscal policy and debt sustainability.
Previously, he was an advisor to the Colombian Ministry of Finance. He has also worked at UNCTAD.
He is one of the leading figures in the study of public debt at the international level. He is a researcher at Eurodad.