| On
Suriname Oil Development IMF Answers Press
on Loose Fiscal Policies Amid Others Qs
by
Matthew Russell Lee, Patreon Substack SOUTH BRONX /
SDNY, Feb 19 – A year after
the failure of Silicon Valley
Bank and Signature Bank, the
International Monetary Fund
was warning of more trouble,
just as NYCB teetered. Inner
City Press on March 7, 2024
asked the IMF about it, video
here.
Now
in February 2026, Inner City
Press had questions for the
IMF ranging from Suriname to
Kenya, Yemen and France to
crypto and El Salvador. The
IMF has answered this question
on Suriname: Inner City Press:
on Suriname, how have recent
energy discoveries impacted
the IMF's view of the
country's prospects? An IMF
Spokesperson: Production
from the new oil development
project - block 58 - is on
track to commence in 2028.
This project has the potential
to generate significant
revenue and improve living
standards. But, to do so,
there is an urgent need to
improve governance and build
institutions to manage these
gains, invest in
infrastructure; improve
health, education and social
outcomes; preserve
macroeconomic stability; and
avoid the so-called resource
curse. There could be further
developments of other offshore
oil and gas fields. However,
overly loose fiscal and
monetary policy, risks further
eroding hard-won gains in
macroeconomic stability of the
last few years. You can find
more about the country’s
prospects and challenges is
contained in The Staff Report
for the 2025 Article IV
Consultation, which was published
earlier this month. On crypto
back on May 16, 2024 Inner
City Press asked the IMF in
writing, "On Nigeria and
crypto, what is the IMF's
comments on reports that the
IMF 'commended the Nigerian
regulatory bodies’ handling of
crypto-related cases, evident
in the ongoing legal dispute
between the Nigerian
government and the world’s
largest exchange, Binance'?
Including the arrests?" The IMF to its
credit answered on May 17,
2024, attributable to an IMF
spokesperson: "We cannot
comment on ongoing legal
actions in a member country.
While crypto assets purport
significant advantages for
users in terms of speed and
cost-effectiveness, these have
not yet materialized. Further,
they can also be used for
illicit purposes. Global
crypto trading platforms that
want to operate in Nigeria
should be registered or
licensed in Nigeria and
subject to the same regulatory
requirements applicable to
other financial
intermediaries.†Watch this site.
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