Weekly Report - 19 November 2020 (WR-20-46)

SURINAME | Seeking debt relief. The government led by President Chandrikapersad Santokhi appealed to creditors on 14 November to defer repayments on the debt principal and interest on its two bonds together totalling US$675m. This was not a bolt from the blue. The government activated a 30-day grace period in late October. It launched a consent solicitation, requesting that bondholders amend the terms of the bonds. If the bondholders agree it will give the government time in which to try and negotiate a programme with the International Monetary Fund (IMF), and stage debt relief talks with holders of its US dollar-denominated bonds.

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