IMF Executive Board Concludes Article IV Consultation with Suriname

Suriname is benefiting from the global boom in commodity prices and from increased mining output. Real GDP increased by 8 percent in 2004 and by around 5 percent in 2005, boosted by the opening of a new gold mine and investment in the alumina and bauxite sector. Inflation moderated to 9 percent in 2004, partly reflecting the effects of exchange rate stability, but is estimated to have risen to about 17 percent in 2005, largely as a result of a doubling of domestic fuel prices in September 2005.