IMF gives Suriname passing grade

An International Monetary Fund (IMF) mission has ended a two-week visit to Suriname, saying it expects the economy to grow by five per cent this year.



Head of the mission, Gamal El-Masry, notes that economic activity has picked up, even as pressures on prices have increased.



He says economic growth is estimated to have risen from three per cent in 2009 to 4.5 per cent last year driven by a rebound in prices of Suriname’s main commodity exports and elevated government spending.



He says the mission expects growth to pick up further in 2011, to about five per cent, supported by continued buoyant commodity prices, and large capital investments in the mineral and energy sectors.



The IMF noted that inflation topped 10 per cent in December 2010, up from 1.3 per cent at the end of 2009.