Suriname

Classified as upper-middle-income, South American country of Suriname has a population of about 634,000 and is rich in natural resources. Nearly half of the country’s public sector revenue and more than 80 percent of its exports come from mining, leaving it particularly susceptible to external shocks.

After years of robust growth fueled by commodity prices, Suriname faced a significant fiscal crisis beginning in 2015 that was made worse by the COVID-19 pandemic. In response, the government implemented a macroeconomic stabilization plan and pursued debt restructuring, both with support from the World Bank Group.

Suriname is ranked 124th on the United Nations Human Development Index—approximately 17.5 percent of its population lives on less than $8.30 a day, the poverty threshold for upper-middle-income countries. Although its 94.5 percent forest cover makes Suriname one of the world's most carbon-negative countries, it remains highly vulnerable to flooding—particularly in coastal urban regions, including in the capital, Paramaribo.

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Support from an IMF-backed reform program that ran through early 2025 helped stabilize Suriname’s economy after years of volatility.

Fiscal consolidation, debt restructuring, and budget tightening have improved debt sustainability and helped ease inflation from 51.6 percent in 2023 to 11.2 percent in 2024. Real GDP growth reached 2.8 percent in 2024 and is projected to jump to 3.1 percent in 2025, driven by private investment ahead of expected 2028 offshore oil production.

Still, poverty is a challenge, with 17.5 percent of the population living below the poverty line for upper-middle-income countries, and 46.5 percent experiencing multidimensional poverty—a lack of access to services like healthcare, education, and nutrition—particularly in the country’s interior, non-coastal areas.

To ensure inclusive growth, the government is currently prioritizing social protection reform, women’s labor force participation, and climate resilience. Risks include oil price volatility, climate shocks, and external trade dynamics. Strengthening institutional capacity and fiscal governance will be critical to managing mining revenues and sustaining poverty reduction.

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The World Bank Group’s active engagement in Suriname focuses on initiatives that tackle climate vulnerability, infrastructure modernization, and economic diversification.

Prosperity: Inclusive economic growth, by improving the private sector business climate, promoting entrepreneurship, and advancing opportunities in job-rich sectors like agriculture and tourism. It reduces dependence on mining and oil, creating new opportunities for local innovators and SMEs.

Infrastructure: Enhancing Economic Competitiveness, by strengthening climate resilience, improving water resource management, and enhancing disaster preparedness. Key projects include initiatives to boost flood-protection infrastructure and support integrated water governance, particularly in vulnerable interior regions.

These efforts align with Suriname’s development priorities and the World Bank Group’s work to reduce environmental risks, safeguard livelihoods, and promote access to services. Through targeted investments and technical assistance, the Bank Group helps Suriname build capacity and climate-resilient infrastructure for long-term resilience and inclusive growth.

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The 2025–2029 Country Partnership Framework for Suriname outlines the World Bank Group’s strategic support for building a just, resilient, and inclusive society.

It focuses on three core objectives: strengthening macroeconomic resilience through fiscal reform, debt sustainability, and financial sector stability; promoting inclusive service delivery by investing in education, health, and social protection—especially for vulnerable and interior populations; and enhancing climate resilience and disaster preparedness through infrastructure upgrades and sustainable management of natural resources.

The strategy aligns with Suriname’s national development plan and the World Bank’s work to reduce poverty, foster equitable growth, and prepare the country for a low-carbon future.

The World Bank Group collaborates extensively with other development partners, such as the Inter-American Development Bank and the United Nations.  The strategy aligns with Suriname’s national development plan and the World Bank’s global pillars of resilience, inclusion, and sustainability, aiming to reduce poverty, foster equitable growth, and prepare the country for a low-carbon future.

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