LatinNews Daily - 12 December 2023

*The Inter-American Development Bank (IDB) has approved a US$150m loan to Suriname to support public management and transparency policies. According to an IDB press release, the funds will “contribute to Suriname’s economic growth and fiscal sustainability by improving government agencies’ accountability mechanisms, among other actions”. The loan has four components: ensuring the existence of a stable macroeconomic context; seeking to improve integrity and anti-corruption governance in the public sector; supporting transparency in public financial management; and strengthening the financial integrity framework. Specifically, the loan which has a 20-year repayment term, a five-and-a-half-year grace period, and an interest rate based on the Secured Overnight Financing Rate (SOFR), will strengthen legal frameworks, build institutional capacities of governmental bodies to prevent corruption, improve financial reporting, and combat money laundering and terrorist financing to tackle illicit financial flows as well as enhancing personnel management in the public sector.