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Government
Suriname

Country name:

conventional long form: Republic of Suriname conventional short form: Suriname local long form: Republiek Suriname local short form: Suriname former: Netherlands Guiana, Dutch Guiana

Government type:

constitutional democracy

Capital:

name: Paramaribo geographic coordinates: 5 50 N, 55 10 W time difference: UTC-3 (2 hours ahead of Washington, DC during Standard Time)

Administrative divisions:

10 districts (distrikten, singular - distrikt); Brokopondo, Commewijne, Coronie, Marowijne, Nickerie, Para, Paramaribo, Saramacca, Sipaliwini, Wanica

Independence:

25 November 1975 (from the Netherlands)

National holiday:

Independence Day, 25 November (1975)

Constitution:

ratified 30 September 1987; effective 30 October 1987

Legal system:

based on Dutch legal system incorporating French penal theory; accepts compulsory ICJ jurisdiction with reservations

Suffrage:

18 years of age; universal

Executive branch:

chief of state: President Runaldo Ronald VENETIAAN (since 12 August 2000); Vice President Ramdien SARDJOE (since 3 August 2005); note - the president is both the chief of state and head of government head of government: President Runaldo Ronald VENETIAAN (since 12 August 2000); Vice President Ram SARDJOE (since 3 August 2005) cabinet: Cabinet of Ministers appointed by the president elections: president and vice president elected by the National Assembly or, if no presidential or vice presidential candidate receives a two-thirds constitutional majority in the National Assembly after two votes, by a simple majority in the larger United People's Assembly (893 representatives from the national, local, and regional councils), for five-year terms (no term limits); election last held on 25 May 2005 (next to be held in 2010) election results: Runaldo Ronald VENETIAAN reelected president; percent of vote - Runaldo Ronald VENETIAAN 62.9%, Rabin PARMESSAR 35.4%, other 1.7%; note - after two votes in the parliament failed to secure a two-thirds majority for a candidate, the vote then went to a special session of the United People's Assembly on 3 August 2005

Legislative branch:

unicameral National Assembly or Nationale Assemblee (51 seats; members are elected by popular vote to serve five-year terms) elections: last held on 25 May 2005 (next to be held in 2010) election results: percent of vote by party - NF 39.7%, NDP 22.2%, VVV 13.8%, A-Com 7.2%, A-1 5.9%, other 11.2%; seats by party - NF 23, NDP 15, VVV 5, A-Com 5, A-1 3

Judicial branch:

Cantonal Courts and a Court of Justice as an appellate court (justices are nominated for life)

Political parties and leaders:

Alternative-1 or A-1 (a coalition of Amazone Party of Suriname or
APS [Kenneth VAN GENDEREN], Democrats of the 21st Century or D-21
[Soewarto MOESTADJA], Nieuw Suriname or NS [Radjen Nanan PANDAY],
Political Wing of the FAL or PVF [Jiwan SITAL], Trefpunt 2000 or
T-2000 [Arti JESSURUN]); General Interior Development Party or ABOP
[Ronnie BRUNSWIJK]; National Democratic Party or NDP [Desire
BOUTERSE]; New Front for Democracy and Development or NF (a
coalition that includes A-Combination or A-Com, Democratic
Alternative 1991 or DA-91, an independent, business-oriented party
[Winston JESSURUN], National Party Suriname or NPS [Ronald
VENETIAAN], United Reform Party or VHP [Ramdien SARDJOE], Pertjaja
Luhur or PL [Salam Paul SOMOHARDJO], Surinamese Labor Party or SPA
[Siegfried GILDS]); Party for Democracy and Development in Unity or
DOE [Marten SCHALKWIJK]; People's Alliance for Progress or VVV (a
coalition of Democratic National Platform 2000 or DNP-2000 [Jules
WIJDENBOSCH], Grassroots Party for Renewal and Democracy or BVD
[Tjan GOBARDHAN], Party for National Unity and Solidarity of the
Highest Order or KTPI [Willy SOEMITA], Party for Progression,
Justice, and Perseverance or PPRS [Renee KAIMAN], Pendawalima or PL
[Raymond SAPOEN]); Progressive Laborers and Farmers Union or PALU
[Jim HOK]; Progressive Political Party or PPP [Surinder MUNGRA];
Seeka [Paul ABENA]; Union of Progressive Surinamers or UPS [Sheoradj
PANDAY]

Political pressure groups and leaders:

Association of Indigenous Village Chiefs [Ricardo PANE]; Association of Saramaccan Authorities or Maroon [Head Captain WASE]; Women's Parliament Forum or PVF [Iris GILLIAD]

International organization participation:

ACP, Caricom, FAO, G-77, IADB, IBRD, ICAO, ICCt, ICRM, IDB, IFAD,
IFRCS, IHO (suspended), ILO, IMF, IMO, Interpol, IOC, IPU, ISO
(subscriber), ITU, ITUC, LAES, MIGA, NAM, OAS, OIC, OPANAL, OPCW,
PCA, UN, UNASUR, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO,
WMO, WTO

Diplomatic representation in the US:

chief of mission: Ambassador Jacques Ruben Constantijn KROSS chancery: Suite 460, 4301 Connecticut Avenue NW, Washington, DC 20008 telephone: (202) 244-7488 FAX: (202) 244-5878 consulate(s) general: Miami

Diplomatic representation from the US:

chief of mission: Ambassador Lisa Bobbie SCHREIBER HUGHES embassy: Dr. Sophie Redmondstraat 129, Paramaribo mailing address: US Department of State, PO Box 1821, Paramaribo telephone: 472-900 FAX: 410-025

Flag description:

five horizontal bands of green (top, double width), white, red (quadruple width), white, and green (double width); there is a large, yellow, five-pointed star centered in the red band

Economy
Suriname

Economy - overview:

The economy is dominated by the mining industry, with exports of alumina, gold, and oil accounting for about 85% of exports and 25% of government revenues, making the economy highly vulnerable to mineral price volatility. The short-term economic outlook depends on the government's ability to control inflation and on the development of projects in the bauxite and gold mining sectors. Suriname has received aid for these projects from Netherlands, Belgium, and the European Development Fund. Suriname's economic prospects for the medium term will depend on continued commitment to responsible monetary and fiscal policies and to the introduction of structural reforms to liberalize markets and promote competition. In 2000, the government of Ronald VENETIAAN, returned to office and inherited an economy with inflation of over 100% and a growing fiscal deficit. He quickly implemented an austerity program, raised taxes, attempted to control spending, and tamed inflation. These economic policies are likely to remain in effect during VENETIAAN's third term. Prospects for local onshore oil production are good as a drilling program is underway. Offshore oil drilling was given a boost in 2004 when the State Oil Company (Staatsolie) signed exploration agreements with Repsol, Maersk, and Occidental. Bidding on these new offshore blocks was completed in July 2006.

GDP (purchasing power parity):

$3.846 billion (2007 est.)

GDP (official exchange rate):

$2.404 billion (2007 est.)

GDP - real growth rate:

5.1% (2007 est.)

GDP - per capita (PPP):

$8,700 (2007 est.)

GDP - composition by sector:

agriculture: 10.8% industry: 24.4% services: 64.8% (2005 est.)

Labor force:

156,700 (2004)

Labor force - by occupation:

agriculture: 8% industry: 14% services: 78% (2004)

Unemployment rate:

9.5% (2004)

Population below poverty line:

70% (2002 est.)

Household income or consumption by percentage share:

lowest 10%: NA% highest 10%: NA%

Budget:

revenues: $392.6 million expenditures: $425.9 million (2004)

Fiscal year:

calendar year

Inflation rate (consumer prices):

6.4% (2007 est.)

Commercial bank prime lending rate:

13.77% (31 December 2007)

Stock of money:

$416.6 million (31 December 2007)

Stock of quasi money:

$824.4 million (31 December 2007)

Stock of domestic credit:

$651 million (31 December 2007)

Agriculture - products:

paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; shrimp; forest products

Industries:

bauxite and gold mining, alumina production; oil, lumbering, food processing, fishing

Industrial production growth rate:

6.5% (1994 est.)

Electricity - production:

1.595 billion kWh (2006 est.)

Electricity - consumption:

1.457 billion kWh (2006 est.)

Electricity - exports:

0 kWh (2007 est.)

Electricity - imports:

0 kWh (2007 est.)

Electricity - production by source:

fossil fuel: 25.2% hydro: 74.8% nuclear: 0% other: 0% (2001)

Oil - production:

13,000 bbl/day (2007 est.)

Oil - consumption:

12,370 bbl/day (2006 est.)

Oil - exports:

2,899 bbl/day (2005)

Oil - imports:

6,369 bbl/day (2005)

Oil - proved reserves:

88 million bbl (1 January 2008 est.)

Natural gas - production:

0 cu m (2007 est.)

Natural gas - consumption:

0 cu m (2007 est.)

Natural gas - exports:

0 cu m (2007 est.)

Natural gas - imports:

0 cu m (2007 est.)

Natural gas - proved reserves:

0 cu m (1 January 2006 est.)

Current account balance:

$24 million (2007 est.)

Exports:

$1.391 billion f.o.b. (2006 est.)

Exports - commodities:

alumina, gold, crude oil, lumber, shrimp and fish, rice, bananas

Exports - partners:

Canada 26.8%, Norway 20.2%, Belgium 9.2%, US 8.9%, UAE 7.9%, France 7.2% (2007)

Imports:

$1.297 billion f.o.b. (2006 est.)

Imports - commodities:

capital equipment, petroleum, foodstuffs, cotton, consumer goods

Imports - partners:

US 27%, Netherlands 17.3%, Trinidad and Tobago 14.3%, China 5.9%,
Japan 5.1% (2007)

Economic aid - recipient:

$43.97 million (2005)

Reserves of foreign exchange and gold:

$263.3 million (2006)

Debt - external:

$504.3 million (2005 est.)

Market value of publicly traded shares: