PARAMARIBO – Finance and Planning Minister Stanley Raghoebarsing on Monday revealed that the government received USD 60 million from the state oil company (Staatsolie) in the first 7 months of this year but that all of this money and an additional USD 10 million went straight to the Energy Company Suriname (EBS).

 It was necessary to pump this money into the EBS in order to keep the company operational. “This situation is unbearable and can’t be continued,” said Minister Raghoebarsing. It is unclear if the government had a debt of USD 70 million at the EBS and if new debts will start piling up. According to the EBS Tariff Commission, the government does not pay 30% of its electricity bills. Minister Raghoebarsing made it clear that the extra money that is generated by the new electricity tariffs goes to the treasury. “These measures are necessary to maintain economic stability.”…[+]