Republic of Suriname Outlook Revised To Stable From Negative On End Of Economic Contraction

OVERVIEW With gold prices stabilizing and new production on line, Suriname is experiencing a return to economic growth, which is easing pressure on its external finances and exchange rate, generating improved fiscal outcomes, and lowering its net general government debt burden. We are therefore revising our outlook on the Republic of Suriname to stable from negative. We are affirming our 'B' long-term sovereign credit rating and our 'B' senior unsecured debt rating on the country's US$550 million bond due in 2026. We are also affirming our 'B+' transfer and convertibility assessment on Suriname. The stable outlook reflects our expectations that, in the next 12 to 24 months, real GDP growth will remain positive and rising, current account surpluses will result

...OVERVIEW + With gold prices stabilizing and new production on line, Suriname is experiencing a return to economic growth, which is easing pressure on its external finances and exchange rate, generating improved fiscal outcomes, and lowering its net general government debt burden. + We are therefore revising our outlook on the Republic of Suriname to stable from negative. + We are affirming our 'B' long-term sovereign credit rating and our 'B' senior unsecured debt rating on the country's US$550 million bond due in 2026. + We are also affirming our 'B+' transfer and convertibility assessment on Suriname. + The stable outlook reflects our expectations that, in the next 12 to 24 months, real GDP growth will remain positive and rising, current account surpluses will result in growing usable reserves, general government deficits will continue falling, inflation will subside, and the burden of net general government debt will continue to decline. RATING ACTION On April 2, 2018, S&P Global Ratings...

Ratings Action