The ratings on Republic of Suriname are constrained by: A recent track record of serious macroeconomic mismanagement, resulting in years of fiscal imbalances, high inflation, and commercial- and official-creditor debt defaults. The government cured its foreign-currency debt defaults with the European Investment Bank (EIB), the Inter-American Development Bank (IADB), and two Spanish commercial banks by end-November 2001. The budgetary position remains fragile, reflecting the continued, pervasive role of the state in the economy. The vulnerabilities inherent in an open, narrowly based, and middle-income economy. A pronounced export dependency upon aluminum (more than 80% of export of goods) underscores commodity-price and demand-related risks. Furthermore, the public-sector involvement in most economic spheres, coupled with a weak banking system, restricts meaningful development of
