Moody’s downgrades Suriname economic outlook

Moody’s said it would consider upgrading the rating “if a sustainable narrowing of the fiscal deficit supports a reversal of the upwards trend in government debt metrics, or if substantial fiscal savings accumulate in the sovereign wealth fund”. It also said a strengthening of the budgetary and fiscal framework, through institutional enhancements that decrease fiscal volatility, would also lead to upward pressure on the government’s rating.

Moody’s said Suriname’s sovereign rating could be downgraded “in the event of material fiscal slippage that leads to a continued increased of government debt ratios or a material weakening of economic growth prospects”.

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