President Jennifer Geerlings-Simons has called on Suriname’s banking sector to play a more active role in the country’s economic development.
The meeting was held on Saturday, October 17, 2026, in the Royal Ballroom of Hotel Torarica, in the presence of government representatives and national and international banking officials. The central theme was ‘Building a Trusted & Resilient Financial Sector for Suriname’s Next Economy’.
According to Simons, Suriname is on the threshold of economic opportunities that were barely imaginable a generation ago. She referred to the development of the oil and gas sector, new markets and opportunities for Surinamese entrepreneurs.
At the same time, the head of state warned that economic opportunities do not automatically lead to development. “Opportunities alone do not build a country. Trust does,” she stressed.
According to the president, the government wants to look beyond economic recovery alone. The aim is an economy that produces more, exports more and creates sustainable employment. In her view, this requires a financial sector that not only offers stability, but also genuinely supports investment and entrepreneurship.
Strengthening international financial reputation
An important part of the speech was strengthening the international credibility of Suriname’s financial system.
Simons pointed to findings from the Nationale Risicoanalyse (NRA) and the Mutual Evaluation Report (MER), which, according to her, show that targeted improvements and demonstrable results are necessary.
With the establishment of the presidential Anti-Money Laundering Taskforce (AML-TF), the government aims to better coordinate the approach to money laundering and other financial risks.
According to the president, this is of great importance for maintaining international correspondent banking relationships. These relationships enable Surinamese banks to process international payments and transactions.
With a view to the international assessment by the Financial Action Task Force (FATF) in 2027, Suriname must, according to the head of state, demonstrate that financial supervision and the fight against financial crime are genuinely being strengthened.
Government focuses on budget discipline and a stable economy
Macroeconomic stability also received attention during the meeting. According to Simons, banks and investors need predictable economic policy, legal certainty and manageable public debt.
The government is therefore working, under the leadership of the ministerie van Financiën en Planning (Ministry of Finance and Planning), to improve budget management and tax collection. Public funds must also be spent more efficiently.
“We are focusing on modernising the Belastingdienst and Douane, more efficient spending of public resources and stronger financial planning,” the president declared.
In addition, work is being done in cooperation with the Centrale Bank van Suriname (CBVS), while preserving the bank’s independence, to create a more stable economic environment. The focus is on controlling inflation, exchange-rate risks and financial uncertainty.
Another point of attention is preparation for future revenues from oil production. The government wants to further operationalise the Spaar- en Stabilisatiefonds to manage these revenues responsibly.
Investment legislation must be ready in 2027
According to Simons, Suriname must set clear economic priorities, because not all sectors can be developed simultaneously.
The government is therefore focusing on sectors with growth potential, including agriculture, agro-industry, tourism, sustainable forestry, logistics and technology.
The president stressed that the oil and gas industry must not develop into a stand-alone economic sector. Its development should instead create opportunities for other industries and local entrepreneurs.
To encourage investment, work is under way to modernise investment legislation. The government aims to complete this process in 2027.
Banks must provide more financing to local entrepreneurs
During her speech, Simons made three concrete appeals to the banking sector.
First, banks must strengthen their role as guardians of financial integrity. This includes combating money laundering and complying with international financial standards.
In addition, the president expects banks to make a greater contribution to financing productive sectors. According to her, Suriname needs a broader domestic capital market, so that entrepreneurs and companies can gain easier access to financing.
As a third point of attention, she mentioned making financial services more accessible and modern. According to the head of state, more Surinamers should be able to use reliable financial services.
President wants concrete financing agenda with banking sector
Finally, the president stressed that economic development is not achieved solely by organising conferences and formulating policy intentions. According to her, the agreements must be translated into concrete actions.
The government has therefore invited the Surinaamse Bankiersvereniging (SBV) to actively participate in national consultations.
Together with the ministerie van Financiën en Planning, the Centrale Bank van Suriname and development institutions, work must be done on a national financing agenda aligned with the country’s economic priorities.
According to Simons, that agenda must contain clear responsibilities, achievable deadlines and measurable results.
With this appeal, the head of state emphasises closer cooperation between the government and financial institutions, with banks playing a role not only in safeguarding financial stability, but also in supporting investment, production and employment.
Source: Speech by President Jennifer Geerlings-Simons during the Suriname Banking and Finance Summit 2026, as submitted to Key News.
