Suriname’s public debt stood at SRD 177.8 billion in August 2026, according to President Jennifer Simons, equivalent to 100.4 percent of gross domestic product (GDP). During her annual address on Wednesday, September 30, she announced that the government wants to further reduce the debt ratio from 2027 onwards.
The president pointed out that the debt must ultimately be reduced to below the legal debt ceiling of 60 percent of GDP. She did not specify a concrete timeframe within which that limit must be reached.
The government wants to achieve the reduction through budget discipline, economic growth, increased state revenues and prudent debt management. New financial obligations for which there is no coverage must also be avoided.
“Not by slowing down necessary development,” Simons stressed.
Less dependent on direct loans
According to the president, productive investments that can increase growth, exports, employment and state revenues should, as much as possible, be financed through means other than direct loans.
The government wants to provide the basic conditions and necessary public investments, while private investments are to be attracted for important development projects. Simons stated that government investments must pay for themselves.
“Our financial course must be clear to everyone: before the major oil revenues arrive, the State’s financial house must be in order,” she said.
Bonds used for refinancing
In her annual address, Simons also explained recent international financing. On November 6, 2025, two bonds were issued, according to her, for a combined US$ 1.575 billion, with maturities of five and ten years. In February 2026, the ten-year bond was reopened, worth US$ 265 million.
According to the president, the proceeds were mainly used for refinancing and making existing debts more manageable. This included the repurchase and redemption of the bond maturing in 2033 and the buyout of the Value Recovery Instrument linked to future oil revenues.
Certain commercial and bilateral debts were also repaid early, including obligations to creditors of the Paris Club. In addition, funds were set aside for interest payments on the new bonds through May 2028.
According to the annual address, approximately US$ 185 million from the reopening of the ten-year bond was allocated to urgent projects, including agricultural projects and the restoration of healthcare services and educational facilities.
Budget deficit remains a challenge
Set against the aim of a lower debt ratio is an estimated budget deficit of SRD 10.8 billion for 2027, or 4 percent of GDP. The government expects SRD 70.1 billion in revenue and SRD 80.9 billion in expenditure.
Simons therefore stressed that new financing decisions must fit within a broader debt strategy. According to her, the Bureau voor de Staatsschuld (Public Debt Office) is working with the ministerie van Financiën en Planning (Ministry of Finance and Planning) and the Centrale Bank (Central Bank) to develop a local capital market, with technical support from IMF/CARTAC.
The announced reduction concerns debt as a percentage of GDP. The annual address contains no concrete reduction schedule for the nominal debt amount of SRD 177.8 billion.
