Diplomatic representation in the US: chief of mission: Ambassador Arnold Theodoor HALFHIDE 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 Dennis K. HAYS embassy: Dr. Sophie Redmondstraat 129, Paramaribo mailing address: P. O. Box 1821, American Embassy Paramaribo, Department of State, Washington, DC, 20521-3390 telephone: 472900, 477881, 476459 FAX: 420800
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
@Suriname:Economy
Economy - overview: The economy is dominated by the bauxite industry, which accounts for more than 15% of GDP and 70% of export earnings. After assuming power in the fall of 1996, the WIJDENBOSCH government ended the structural adjustment program of the previous government, claiming it was unfair to the poorer elements of society. Tax revenues fell as old taxes lapsed and the government failed to implement new tax alternatives. By the end of 1997, the allocation of new Dutch development funds was frozen as Surinamese Government relations with the Netherlands deteriorated. Economic growth slowed in 1998, with decline in the mining, construction, and utility sectors. Rampant government expenditures, poor tax collection, a bloated civil service, and reduced foreign aid in 1999 contributed to the fiscal deficit, estimated at 11% of GDP. The government sought to cover this deficit through monetary expansion, which led to a dramatic increase in inflation and exchange rate depreciation. Suriname's economic prospects for the medium term will depend on renewed commitment to responsible monetary and fiscal policies and to the introduction of structural reforms to liberalize markets and promote competition.
GDP: purchasing power parity - $1.48 billion (1999 est.)
GDP - real growth rate: -1% (1999 est.)
GDP - per capita: purchasing power parity - $3,400 (1999 est.)
GDP - composition by sector: agriculture: 13% industry: 22% services: 65% (1998 est.)
Population below poverty line: NA%