FATF status

Suriname is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last follow-up Mutual Evaluation relating to the implementation of anti-money laundering and counter-terrorist financing standards in Suriname was undertaken in 2023. According to that Evaluation, Suriname was deemed Compliant for 3 and Largely Compliant for 11 of the FATF 40 Recommendations. It remains deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness Compliance ratings.

Suriname's legal framework addresses corruption, but enforcement is inconsistent, with rare convictions despite the passage of anti-corruption legislation in 2017. A new decree aimed at increasing transparency among public officials was issued in 2023, yet there are still no laws to prevent conflicts of interest in government contracts. Corruption remains a significant barrier to foreign direct investment, particularly in public procurement and licensing, and local companies often lack internal controls to combat bribery.

Suriname's economy is primarily driven by extractive industries, particularly gold mining and a burgeoning offshore oil sector, which attract significant foreign direct investment (FDI). The government is working to stabilize the economy through reforms supported by the International Monetary Fund (IMF), with expectations of growth and improved fiscal conditions in the coming years. However, challenges such as corruption, lack of transparency, and an unclear investment approval process continue to hinder the overall investment climate.

Suriname's investment climate is officially supportive of both local and foreign investment, particularly favoring U.S. investors with experience in developing markets. However, challenges such as an unclear approval process for foreign direct investment (FDI), corruption, and a lack of transparency hinder its attractiveness. The government is working to improve the investment environment by updating legal frameworks and addressing issues related to macroeconomic stability, which could enhance investor confidence.