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: [597] 472-900 FAX: [597] 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):