Financial Crime World

Suriname Falls Behind in Fight Against Corruption

Georgetown, Suriname - As Suriname prepares to implement its 2017 anti-corruption law, it is clear that more needs to be done to combat the pervasive problem of corruption in the country.

Limitations and Challenges

Despite being a member of the Inter-American Anti-Corruption Convention, Suriname has not ratified the United Nations Convention on Corruption (UNCAC), the only legally binding universal anti-corruption instrument. This has limited its ability to cooperate with other countries and international organizations in investigating and prosecuting corruption offenses.

  • Outdated regulatory and procedural frameworks hinder effective cooperation mechanisms with other countries and international organizations on managing seized and forfeited assets.
  • Suriname is not a party to the Inter-American Convention on Extradition, making it difficult for authorities to extradite individuals accused of corruption-related crimes.

Regional Efforts Fall Short

While some regional efforts have been made to combat corruption, they have not been effective in addressing the problem. For example:

  • The Association of Integrity Commissions and Anti-Corruption Bodies in the Commonwealth Caribbean was established in 2012, but Suriname is not a member of the Commonwealth.
  • The CARICOM region has failed to implement its financial disclosure laws effectively, partly due to lack of funding for commissions and a lack of cultural transparency.

Technical and Financial Assistance Available

To improve its anti-corruption efforts, Suriname may want to take advantage of technical and financial assistance from international organizations and civil society. Some available resources include:

  • The UNODC Regional Office for Central America and the Caribbean has a regional program that includes countering corruption and money laundering.
  • The Inter-American Development Bank provides grants to CARICOM countries to prepare national risk assessments and revise anti-money laundering/combating the financing of terrorism laws.
  • Civil society organizations such as the Basel Institute of Governance and the International Anti-Corruption Academy offer training and capacity-building programs for developing countries’ prosecution offices.

International Community Offers Support

The international community is willing to assist Suriname in improving its anti-corruption efforts. The IMF has underscored the need to strengthen governance in Suriname, recognizing that corruption is a major obstacle to economic development and stability.

  • Suriname’s rich natural resources also require careful stewardship to manage the country’s fragile environment and protect endangered species.

Conclusion

While Suriname has made some progress in combating corruption, more needs to be done to implement effective anti-corruption laws and regulations. The international community is willing to assist Suriname in this effort, but it is up to the government to take the necessary steps to improve transparency and governance.