Suriname to request further extension on debt repayments

NEW YORK (Reuters) - Suriname said on Wednesday it will ask its creditors for an extension of the payment deferral on its 2023 and 2026 notes, according to a government statement.

An agreement reached with creditors last year gave the country until March 24 to secure a staff level agreement with the International Monetary Fund to buy it extra time to make its payments.

“There is a probability that the staff-level agreement will not be reached prior to March 24, 2021, in which case the Republic will work towards reaching a staff-level agreement in the following weeks,” the government said.

The government statement did not specify how long this deferral solicitation would be, or its terms.

The IMF staff conducted an official virtual mission betweenJan. 25 and Feb. 9, the government said. Suriname’s 2026 bond fell over 2 cents on Wednesday to 65.7, according to Refinitiv data. It traded as high as 68 cents on the dollar earlier this month, the highest level in a year. The 2023 note was unchanged in price at 68. The two notes have an outstanding principal totaling $675 million.

Reporting by Rodrigo Campos; editing by Karin Strohecker and Cynthia Osterman