The Jeddah-based Islamic Development Bank (IsDB) Group has embarked on a two-year (2014 -2015) Interim Member Country Partnership Strategy (MCPS) for Suriname. Under this Interim Strategy, the IsDB intends to contribute to the development priorities of the Government of Suriname underlined in the country’s Five Year Development Plan (2012-2016). In particular, the Strategy is aimed at partnering with the country in its efforts to address the development needs of the country.  

 

The Interim MCPS has been formulated by the Government of Suriname and the IsDB through a consultative process with the relevant stakeholders. This Strategy is regarded as the first step taken by the Bank to enhance its cooperation with Suriname and address some of the most pressing needs of the country. This Interim Strategy will be followed by a full-fledged IsDB Group MCPS, which will be undertaken in close consultation with all the key stakeholders in the country.

 

Under the Interim MCPS, the IsDB will provide support in four major areas namely: i) Healthcare Services; ii) Skills Development / Vocational Training; iii) Sea Transportation (i.e. rehabilitation and expansion of the Nieuw Nickerie Seaport through dredging and construction of warehousing facilities); and iv) Institutional Capacity Building including cyber security. The IsDB is currently processing two projects  with a contribution of US$68 million under this Interim MCPS, while the other programs are under discussion and preparation stage.

 

In the coming years, the Bank’s Strategy will lead to a scale up of its development assistance to further strengthen socio-economic development of Suriname. IsDB’s engagement will be highly selective through implementation of high-yielding operations with greater impact on the lives of people. The future Strategy will also explore the best possible operational modalities to serve the country more effectively given its geographical location and long distance from the rest of the IsDB membership and the IsDB Headquarters in Jeddah, Kingdom of Saudi Arabia.  The IsDB will also strive to enhance its relationship with other development partners active in Suriname, within the overall context of synergy, development effectiveness and harmonization.

Exchange RatesMarch 09th and until further notice

Currency Buying Selling
USD 14,018 14,290
EUR 16,628 16,959
GBP 19,396 19,782
ANG 7,699 7,852
AWG 7,784 7,939
BRL 2,438 2,485
TTD 2,063 2,103
BBD 6,907 7,044
XCD 5,190 5,293
PER 100 GYD 6,657 6,790

Gold CertificatesMarch 09th and until further notice

Coupon SRD
5 gram 7.814,97
10 gram 15.629,94
50 gram 78.149,69
100 gram 156.299,39
500 gram 781.496,94
1000 gram 1562993,88
Gold LME: USD 1.701,00 /tr.oz.

Inflation

    Average End-of-period
2012   5.0 4.3
2013   1.9 0.6
2014   3.4 3.9
2015   6.9 25.1
2016   55.5 52.4
2017   22.0  9.2 
2018   6.8# 5.4 
2019   4.4#  4.2 
2020   34.9 60.8
       
2021   Month-to-month Year-to-year
Jan   2.6 63.8
Feb   1.3 61.9
Mar   2.1 50.4
Apr   3.5 44.4
May   4.2 43.6
Jun   10.8 54.0
Jul   5.7 58.9
Aug   11.6 74.4
Sep   1.3 69.5
Oct   1.5 60.6
Nov*)   3.2 63.3

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)

 

Weighted Average RatesJanuary 14 - 15:00h (Banknotes)

Currency Buying Selling
USD 21.119 21.442
EUR 23.257 23.420
GBP 28.949 29.522
ANG 11.604 11.834
AWG 11.733 11.965
BRL 3.815 3.891
TTD 3.108 3.169
BBD 10.411 10.617
XCD 7.822 7.977
PER 100 GYD 10.035 10.234
CNY 3.324 3.390

Gold CertificatesJanuary 14

Coupon SRD
5 gram 12.673,26
10 gram 25.346,53
50 gram 126.732,64
100 gram 253.465,28
500 gram 1.267.326,40
1000 gram 2.534.652,79
Gold LME: USD 1.821,80 /tr.oz.

Weighted Average Accepted
OMO Rate

Auction ID Auction Date Rate (%)
CBTD220112-1W 2022-01-12 75,2
CBTD220105-1W 2022-01-05 79,5
CBTD211229-1W 2021-12-29 79,5
CBTD211222-1W 2021-12-22 79,4

Standing Lending Facility Interest Rate

Auction ID Auction Date Rate (%)
CBTD220112-1W 2022-01-12 90,4
CBTD220105-1W 2022-01-05 95,4
CBTD211229-1W 2021-12-29 95,4
CBTD211222-1W 2021-12-22 95,3
Balance sheet

Inflation

    Average End-of-period
2012   5.0 4.3
2013   1.9 0.6
2014   3.4 3.9
2015   6.9 25.1
2016   55.5 52.4
2017   22.0  9.2 
2018   6.8# 5.4 
2019   4.4#  4.2 
2020   34.9 60.8
       
2021   Month-to-month Year-to-year
Jan   2.6 63.8
Feb   1.3 61.9
Mar   2.1 50.4
Apr   3.5 44.4
May   4.2 43.6
Jun   10.8 54.0
Jul   5.7 58.9
Aug   11.6 74.4
Sep   1.3 69.5
Oct   1.5 60.6
Nov*)   3.2 63.3

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)