(de Ware Tijd) PARAMARIBO – The Inter-American Development Bank (IDB) will quadruple its investments in Suriname between 2011 and 2015 compared to the 2006-2010 period, Central Bank governor Gilmore Hoefdraad announced at the intercessional meeting of IDB country representatives and Caribbean financial authorities. ‘Suriname considers the IDB a strong and stable partner who assists in our growth. We are convinced that the IDB, aided by all its technical expertise and available means, is equipped to assist our countries on the road from dependent to strong independent economies,’ Hoefdraad said in his address. IDB president Louis Alberto Moreno underscores Suriname has survived the global economic crisis owing to economic growth, macroeconomic stability and a low debt level. At the same time, he warned against social and economic challenges. ‘Suriname’s location offers ample opportunities for trade with neighboring countries and cooperation in fields that are crucial to development. The IDB is a proud and enthusiastic partner for social and economic development in Suriname,’ Moreno said. With tens of billions in investments in the public and private sectors, the IDB is the largest financier for development in Latin America and the Caribbean. The Caribbean has received close to US$ 1.8 billion in investments, which is 12 percent of all IDB investments in the region. ‘That’s unprecedented,’ Moreno said. IDB’s increased role in Suriname is not always welcomed. Former president Ronald Venetiaan, during his terms, has often warned for traps that might come along with loans at international financing institutions including the IDB.
