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PARAMARIBO – Suriname received a positive rating upgrade from the international credit rating agency Standard & Poor’s Global Ratings (S&P). On Monday, S&P raised the country’s long‑term credit rating from CCC+ to B‑ and maintained the outlook as stable. The short‑term rating was also improved, moving from C to B. The upgrade reflects stronger government revenues, largely driven by high gold prices, which have bolstered public finances and reduced the need for external financing. S&P noted that the expected growth of the offshore oil sector, particularly the GranMorgu project, will further support the economy. The agency projects that oil production will begin around mid‑2028, leading to a new phase of economic activity, increased exports, and higher government receipts. S&P forecasts average economic growth of 4.1 % for 2026 and 2027. For 2028 and 2029, the agency expects average growth of 36 %, largely due to the anticipated rise in oil production. The rating upgrade also cites improvements in debt management and the government’s financial position as key factors. Despite the positive outlook, S&P highlights weak institutional capacity and a limited payment culture as ongoing constraints to the country’s credit profile. Article source: De Ware Tijd | Image credit: De Ware Tijd
PARAMARIBO – Suriname received a positive rating upgrade from the international credit rating agency Standard & Poor’s Global Ratings (S&P). On Monday, S&P raised the country’s long‑term credit rating from CCC+ to B‑ and maintained the outlook as stable. The short‑term rating was also improved, moving from C to B. The upgrade reflects stronger government revenues, largely driven by high gold prices, which have bolstered public finances and reduced the need for external financing. S&P noted that the expected growth of the offshore oil sector, particularly the GranMorgu project, will further support the economy. The agency projects that oil production will begin around mid‑2028, leading to a new phase of economic activity, increased exports, and higher government receipts. S&P forecasts average economic growth of 4.1 % for 2026 and 2027. For 2028 and 2029, the agency expects average growth of 36 %, largely due to the anticipated rise in oil production. The rating upgrade also cites improvements in debt management and the government’s financial position as key factors. Despite the positive outlook, S&P highlights weak institutional capacity and a limited payment culture as ongoing constraints to the country’s credit profile.
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