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Suriname Takes Steps to Improve Anti-Corruption Efforts in Finance

In a bid to strengthen its anti-corruption framework and improve transparency in finance, Suriname has embarked on a series of reforms aimed at combating corruption and money laundering. The country’s efforts come as the international community urges governments to take concrete steps to address these pressing issues.

Key Initiatives

  • Modernization of criminal corruption laws, including the establishment of a whistleblower law
  • Ratification of several international conventions aimed at combating corruption, including the Inter-American Anti-Corruption Convention and the United Nations Convention on Corruption (UNCAC)
  • Strengthening of regulatory framework, including updating procedural frameworks for cooperation with other countries and international organizations on managing seized and forfeited assets

International Support

Suriname is seeking technical and financial assistance from international organizations and civil society to further enhance its anti-corruption efforts. The United Nations Office on Drugs and Crime (UNODC), the Inter-American Development Bank (IDB), and the Basel Institute of Governance are among the organizations that have offered support to Suriname in this regard.

Regional Program

The IDB has provided grants to CARICOM countries, including Suriname, to prepare national risk assessments, revise anti-money laundering and combating the financing of terrorism (AML/CFT) laws and regulations, and strengthen examination procedures. The UNODC Regional Office for Central America and the Caribbean has also launched a regional program aimed at countering corruption and money laundering.

International Recognition

Suriname’s efforts have received widespread recognition from the international community, with the International Monetary Fund (IMF) highlighting the need to strengthen governance in its 2018 Article IV report on Suriname. The country’s new government has pledged to tackle corruption and improve transparency, recognizing that these issues are critical to addressing the country’s economic challenges.

Challenges Ahead

While Suriname still faces significant challenges in improving its anti-corruption efforts, the international community is optimistic about the country’s progress and willingness to reform. With continued support from international organizations and civil society, Suriname may be able to make meaningful strides in combating corruption and promoting transparency in finance.

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