Savings and Stabilisation Fund Suriname

At a glance. Suriname's Savings and Stabilisation Fund was created by a law of 30 December 2024 to shield the budget from volatile mining and oil income and save part of it for future generations. It is not yet fully operational. The IMF has urged the authorities to make it work before offshore oil revenue begins, which is expected from about 2028. S1 S4 S5

Key points

• Set up by the Law of 30 December 2024 as a stabilisation and long-term savings fund. S1
• Mining and petroleum revenue goes to foreign currency accounts at the Central Bank in the Fund's name. S1
• Withdrawals go only to the Treasury, within the budget approved by the National Assembly. S1
• A five-member board with seats nominated by government, the Minister, unions, business and the Central Bank. S1
• No private equity, real estate, infrastructure or hedge funds, and no borrowing to buy assets. S1
• First oil revenue is expected around 2028. S5 S3

Interesting facts

• The law commits the Fund to the Santiago Principles. S1
• Accounts are kept in US dollars under IFRS, with an external review every five years. S1
• An investment advisory committee must publish its annual report on the Fund's website. S1

Mandate and goals

Manage extractive revenue prudently as a budget stabiliser and a long-term savings pool, seeking the best return at the lowest cost with acceptable risk. S1

• Stabilise the budget against commodity swings. S1
• Save for current and future generations. S1

How it invests

Published criteria

• No derivatives except for hedging; no privately traded alternatives. S1

Past investments

The fund has not published a list of investments.

Investment process

The Board sets the strategic asset allocation under an investment policy approved by the Minister of Finance, advised by an investment advisory committee. S1

1. Revenue deposited at the Central Bank. S1
2. Board sets allocation and benchmarks. S1
3. External managers invest; annual audited report by 1 June. S1

How to approach: No approach route until the Fund is operating. S1

Size and returns

• Headline size: Not yet funded (Fund market value, as of 2024-12-30) S1
• Returns: the fund does not publish a return figure.

Leadership

The fund does not publish named leaders.

Governance and transparency

• Legal basis: Law of 30 December 2024, S.B. 2024 no. 179 S1
• Oversight: Minister of Finance and the National Assembly; independent external audit S1
• Board names must be made public; members serve five-year terms. S1
• Press reports say the government plans changes to the law. S3

Transparency score: 1.5 of 10 (band 1 of 5). Our own 10-item rubric; see the methodology page.

• Published: governance and mandate documents. S1
• Partly published: asset allocation. S1
• Not published: total assets, annual return, long-term returns, geographic or sector split, holdings or deal list, audited financial statements, named leadership, regular reporting schedule. S1

History

Common questions

When was it created?

By a law of 30 December 2024. S1

Is it operating?

Not yet; the IMF has urged a start before oil revenue arrives. S4

Who will manage the money?

External managers under a five-member Board, with the Central Bank holding accounts. S1

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Sources

1. S1Law of 30 December 2024 on the Savings and Stabilisation Fund Suriname (S.B. 2024 no. 179)
2. S2IFSWF, Our members
3. S3Suriname Nieuws Centrale, Savings and Stabilisation Fund must be operational before first oil revenue
4. S4IMF, Suriname: strengthening the fiscal framework ahead of the anticipated oil boom
5. S5Keynews, IMF urges quick start of Suriname oil fund