7 ways Suriname can raise money to invest in its energy sector

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Suriname is a country with abundant natural resources.

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Suriname is a country with abundant natural resources: gold, iron ore, manganese, bauxite phosphate and kaolin.  There are many opportunities for mining, as Suriname’s metallogenic map shows the occurrence of many unexploited base metals. It also has rich potential for ecotourism. However, the economy is suffering at the moment, because of collapsing global commodity prices—the country’s main exports are gold, aluminium, and oil—and the local currency’s slide against the US dollar. 

 

Suriname is finding the economic reform requirements for the International Monetary Fund (IMF) recovery loan “very harsh” and is exploring new sources of financing.

 

 

7 ways in which Suriname can invest in its energy sector, and provide reliable and sufficient energy to boost development:

 

1. Use Haiti as an example
Suriname must follow the example of Haiti and start thinking of innovative ways in which it can raise revenue—Haiti pulled it off, and so can Suriname.

 

2. Explore Innovative Financing options
The country must explore Innovative Financing for Development (IFD) revenue-raising mechanisms and implement these on domestic resources, which will not add to their debt situation, and have little impact on the local population.

 

3. Technology
Technology can help Suriname achieve sustainable development in a systematic and transparent way. It can be harnessed to finance vital socio-economic programmes or infrastructure, to invest in the energy sector, etc.

 

4. Micro-contributions to raise revenue for projects
Micro-contributions are levied on globalised sectors such as telecommunications, on financial transactions such as remittances and on mining and minerals, as well as travel and tourism—there are many other untapped sources of revenue. These micro-contributions, when aggregated through the use of ICTs, can generate a significant amount of revenue for the government. The money is there—it just has to be unlocked from the diaspora and used for the greater good.

 

5. Use technology as an enabler
Tangible results have been achieved in terms of revenue generation, proper governance and the elimination of fraud, through the necessary monitoring systems.

 

6. Resource mobilisation, revenue assurance and revenue utilisation
There are three key components to any IFD project: resource mobilisation, revenue assurance and revenue utilisation.  If these are properly implemented, the project will be successful.  However, collecting micro-contributions from enormous volumes of transactions involves complex data collection and processing systems.  It cannot be done efficiently without the use of technology.

 

7. Use LSL World Initiative’s IFD mechanisms
A company like LSL World Initiative, which specialises in bringing IFD expertise to emerging countries, can help Suriname put these mechanisms in place in a transparent and sustainable manner. LSL’s approach is to provide cost-effective, scalable and sustainable solutions through technology, with a view to building stability and capacity and to providing quick relief to areas of great need.

 

As a country, Suriname has enormous potential and if the country is able to tap into new resources, the sky is the limit!

 

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Suriname is a country with abundant natural resources.

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Suriname is a country with abundant natural resources: gold, iron ore, manganese, bauxite phosphate and kaolin.  There are many opportunities for mining, as Suriname’s metallogenic map shows the occurrence of many unexploited base metals. It also has rich potential for ecotourism. However, the economy is suffering at the moment, because of collapsing global commodity prices—the country’s main exports are gold, aluminium, and oil—and the local currency’s slide against the US dollar. 

 

Suriname is finding the economic reform requirements for the International Monetary Fund (IMF) recovery loan “very harsh” and is exploring new sources of financing.

 

 

7 ways in which Suriname can invest in its energy sector, and provide reliable and sufficient energy to boost development:

 

1. Use Haiti as an example
Suriname must follow the example of Haiti and start thinking of innovative ways in which it can raise revenue—Haiti pulled it off, and so can Suriname.

 

2. Explore Innovative Financing options
The country must explore Innovative Financing for Development (IFD) revenue-raising mechanisms and implement these on domestic resources, which will not add to their debt situation, and have little impact on the local population.

 

3. Technology
Technology can help Suriname achieve sustainable development in a systematic and transparent way. It can be harnessed to finance vital socio-economic programmes or infrastructure, to invest in the energy sector, etc.

 

4. Micro-contributions to raise revenue for projects
Micro-contributions are levied on globalised sectors such as telecommunications, on financial transactions such as remittances and on mining and minerals, as well as travel and tourism—there are many other untapped sources of revenue. These micro-contributions, when aggregated through the use of ICTs, can generate a significant amount of revenue for the government. The money is there—it just has to be unlocked from the diaspora and used for the greater good.

 

5. Use technology as an enabler
Tangible results have been achieved in terms of revenue generation, proper governance and the elimination of fraud, through the necessary monitoring systems.

 

6. Resource mobilisation, revenue assurance and revenue utilisation
There are three key components to any IFD project: resource mobilisation, revenue assurance and revenue utilisation.  If these are properly implemented, the project will be successful.  However, collecting micro-contributions from enormous volumes of transactions involves complex data collection and processing systems.  It cannot be done efficiently without the use of technology.

 

7. Use LSL World Initiative’s IFD mechanisms
A company like LSL World Initiative, which specialises in bringing IFD expertise to emerging countries, can help Suriname put these mechanisms in place in a transparent and sustainable manner. LSL’s approach is to provide cost-effective, scalable and sustainable solutions through technology, with a view to building stability and capacity and to providing quick relief to areas of great need.

 

As a country, Suriname has enormous potential and if the country is able to tap into new resources, the sky is the limit!

 

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Suriname is a country with abundant natural resources: gold, iron ore, manganese, bauxite phosphate and kaolin.  There are many opportunities for mining, as Suriname’s metallogenic map shows the occurrence of many unexploited base metals. It also has rich potential for ecotourism. However, the economy is suffering at the moment, because of collapsing global commodity prices—the country’s main exports are gold, aluminium, and oil—and the local currency’s slide against the US dollar. 

 

Suriname is finding the economic reform requirements for the International Monetary Fund (IMF) recovery loan “very harsh” and is exploring new sources of financing.

 

 

7 ways in which Suriname can invest in its energy sector, and provide reliable and sufficient energy to boost development:

 

1. Use Haiti as an example
Suriname must follow the example of Haiti and start thinking of innovative ways in which it can raise revenue—Haiti pulled it off, and so can Suriname.

 

2. Explore Innovative Financing options
The country must explore Innovative Financing for Development (IFD) revenue-raising mechanisms and implement these on domestic resources, which will not add to their debt situation, and have little impact on the local population.

 

3. Technology
Technology can help Suriname achieve sustainable development in a systematic and transparent way. It can be harnessed to finance vital socio-economic programmes or infrastructure, to invest in the energy sector, etc.

 

4. Micro-contributions to raise revenue for projects
Micro-contributions are levied on globalised sectors such as telecommunications, on financial transactions such as remittances and on mining and minerals, as well as travel and tourism—there are many other untapped sources of revenue. These micro-contributions, when aggregated through the use of ICTs, can generate a significant amount of revenue for the government. The money is there—it just has to be unlocked from the diaspora and used for the greater good.

 

5. Use technology as an enabler
Tangible results have been achieved in terms of revenue generation, proper governance and the elimination of fraud, through the necessary monitoring systems.

 

6. Resource mobilisation, revenue assurance and revenue utilisation
There are three key components to any IFD project: resource mobilisation, revenue assurance and revenue utilisation.  If these are properly implemented, the project will be successful.  However, collecting micro-contributions from enormous volumes of transactions involves complex data collection and processing systems.  It cannot be done efficiently without the use of technology.

 

7. Use LSL World Initiative’s IFD mechanisms
A company like LSL World Initiative, which specialises in bringing IFD expertise to emerging countries, can help Suriname put these mechanisms in place in a transparent and sustainable manner. LSL’s approach is to provide cost-effective, scalable and sustainable solutions through technology, with a view to building stability and capacity and to providing quick relief to areas of great need.

 

As a country, Suriname has enormous potential and if the country is able to tap into new resources, the sky is the limit!

 

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