**Paramaribo – The Surinamese Business Association (Vereniging Surinaams Bedrijfsleven, VSB) has expressed concern over General Decree No. 228 issued by the Foreign Exchange Commission.**
The decree obliges exporters to repatriate all export earnings and to sell at least 35 percent of those earnings to a licensed foreign‑exchange bank within three working days. The VSB acknowledges the government’s objective of maintaining an adequate supply of foreign currency but argues that the mandatory conversion requirement is impeding the growth of the country’s production sector.
In a statement released in Paramaribo, the VSB warned that the rapid conversion rule could limit exporters’ flexibility in managing cash flow and hinder investment in manufacturing and other productive activities. The association called for a review of the policy, suggesting that a more gradual or optional conversion framework would better support the development of the domestic industrial base while still safeguarding the nation’s foreign‑exchange reserves.
The Foreign Exchange Commission has not yet responded to the VSB’s concerns. No further details on the implementation timeline or potential exemptions were provided in the decree.
Article and image source: dwtonline.com
