Suriname Wants to Talk to Creditors In Upcoming Eurobond Payment Grace Period

Suriname said on Thursday it wanted to make use of a 30-day grace period on its dollar-bond coupon payments coming due on Oct. 26 to engage with creditors to tackle its debt sustainability issues, Reuters reported. Indicating that it might not pay the coupon due on Monday, the government said in a statement it had invited all its commercial creditors to an investor presentation on Oct. 30. “Public debt has risen to historical levels and borrowing continued even as severe macroeconomic and financial imbalances were building up,” the government of the South American nation said. It added that it could not refinance at affordable market prices and servicing its debt conflicted with dealing with the social fallout from the ongoing crisis. Read more