Suriname is attempting to refinance its US$38 million debt with India during President Chandrikapersad “Chan” Santokhi’s current visit to the Asian country.
Albert Ramdin, Minister of Foreign Affairs, International Business, and International Cooperation, who is part of the official delegation from Paramaribo attending the 17th Pravasi Bharatiya Divas Convention, stated that the debt issue is a priority for the Caribbean Community (CARICOM) government.
He expressed optimism about the debt renegotiation with India.
Prior to his departure for New Delhi, President Santokhi remarked “if the debt restructuring with India is completed, already selected projects in Suriname can be implemented.
“These are projects worth $50,000,000. In addition, new projects can be launched, according to Santokhi. According to a government release, he met with India’s Foreign Minister Subrahmanyam Jaishankar on Sunday.
According to Ramdin, a number of barriers for future collaboration have been explored, according to the state-owned Suriname Communications Service (SCS).
He stated that the most pressing issue for Suriname right now is debt rescheduling and management. “The Indian government views this extremely positively. “We are nearing the end of the process,” Ramdin remarked.
Eximbank India and the Ministry of Finance and Planning have already reached an agreement. As a result, the debt rescheduling agreement will have to be handled at that level. However, clearance from the Indian Ministries of Finance and Foreign Affairs is required.
“The Ministry of Finance has already given us permission. All that is needed now is approval from the Ministry of Foreign Affairs.”
Meanwhile, the SCS stated that the continuance of ICT projects was discussed during his conversations with the Indian Foreign Minister.
According to Ramdin, India has long promised Suriname an ICT center, and its implementation is currently being debated.
President Santokhi has requested technical assistance for the E-government initiative, which is also in the works.
“India will fund these,” Ramdin explained.
