The ratings on the Republic of Suriname reflect the progress the government has made on the institutional front to improve its debt-management practices, especially as they relate to external debt. This achievement includes setting up a debt-management bureau, the main focus of which is to develop and implement debt-management strategy, maintain a central record of government debt, give payment instructions, control debt payments, and rationalize the country's outstanding debt arrears. Large arrears continue to weigh negatively on the ratings, pointing both to the government's inability and, in some instances, unwillingness to make timely payments on debt. Total arrears on external bilateral debt amounted to US$131 million (32% of total government external debt) as of June 30, 2005, with 77% of
