Latest news with #Paramaribo
Reuters
07-07-2025
- Business
- Reuters
Newmont to fire at least 10% of staff at Suriname's Merian mine
PARAMARIBO, July 4 (Reuters) - Newmont, the world's largest listed gold miner, announced on Friday that it would lay off 10% to 15% of its workforce at its Merian mine in Suriname, citing production declines. "Since 2021, gold production at Merian has declined 48% while operating costs have increased by 50%, challenges that have put pressure on the long-term sustainability of operation," Newmont said in a press release. According to the company, some 1,550 people currently work at the Merian site. (This story has been refiled to fix a formatting error with the reporter's byline)
Al Jazeera
07-07-2025
- Business
- Al Jazeera
Suriname elects first female president amid economic uncertainty
Suriname has elected Jennifer Geerlings-Simons as its first female president, with parliament backing the 71-year-old physician and lawmaker to lead the crisis-hit South American nation. Her election came after a coalition deal was struck in the National Assembly, which voted by a two-thirds majority on Sunday. The move followed inconclusive May polls and mounting pressure to replace outgoing President Chandrikapersad Santokhi, whose tenure was marred by corruption scandals and harsh austerity. Geerlings-Simons, leader of the National Democratic Party, ran unopposed and will take office on July 16. 'I am aware that the heavy task I have taken on is further aggravated by the fact that I am the first woman to serve the country in this position,' she said after her confirmation. She will be joined by running mate Gregory Rusland, as the pair inherit a country struggling under the weight of economic hardship, reduced subsidies, and widespread frustration. While Santokhi's government managed to restructure debt and restore macroeconomic stability with IMF backing, it also triggered mass protests over deep cuts. With Suriname expected to begin producing offshore oil in 2028, Geerlings-Simons has promised to focus on stabilising state finances. She has previously pledged to boost revenues by tightening tax collection, including from small-scale gold miners. Economists warn she faces a rocky road ahead. Winston Ramautarsingh, former head of the national economists' association, said Suriname must repay about $400m annually in debt servicing. 'Suriname does not have that money,' he said. 'The previous government rescheduled the debts, but that was only a postponement.' Geerlings-Simons will now be tasked with steering the Dutch-speaking country of 646,000 people through a fragile period, balancing public discontent with the promise of future oil wealth. As Suriname prepares to mark 50 years since gaining independence from the Netherlands this November, the small South American country is pinning its hopes on a new era driven by oil wealth and deepening ties with China. In 2019, it joined China's Belt and Road Initiative, becoming one of the first Latin American states to sign on to the vast infrastructure project. Suriname is one of the continent's poorest nations, despite its rich ethnic tapestry that includes descendants of Africans, Indigenous groups, Indians, Indonesians, Chinese, and Dutch settlers.
CNN
06-07-2025
- Politics
- CNN
Suriname parliament elects first female president
Suriname's parliament backed Jennifer Simons as the South American country's first woman president on Sunday, setting the doctor and former parliamentary speaker on course to helm a nation on the cusp of a predicted oil boom. Surinamese lawmakers backed Simons as president six weeks after the ruling party and its top opposition nearly tied in the race for legislative seats, leading to a coalition deal to install Simons as president. Simons' opposition National Democratic Party won 18 seats and current President Chan Santokhi's Progressive Reform Party won 17 seats in the May 25 parliamentary election. Smaller parties won the remaining 16 seats. Suriname's president is elected indirectly. Following the general election, members of the National Assembly vote for the president, and a candidate must secure a two-thirds majority to win the office. 'I come into this office to serve, and I will use all my knowledge, strength and insight to make our wealth available to all of our people,' Simons, 71, said in a brief speech after lawmakers approved her appointment with a round of applause. Simons vowed to pay special attention to young people and those who have not yet had the best opportunities. 'I am very aware of the responsibility now placed on our shoulders, a responsibility compounded for me by the fact that I am the first woman to hold this office,' she added. 'I do not need many words. My thanks and we will get to work.' Incumbent President Chan Santokhi, a 66-year-old former police commissioner who stood for re-election, had faced criticism over a lack of protections for the poorer and more vulnerable sectors of society. Santokhi congratulated Simons on her election and told lawmakers he took responsibility for his shortcomings and hoped he would be remembered for his commitment. He said he would continue to serve the country after the transition as a member of parliament. Suriname, a former Dutch colony independent since 1975, is expected to see a surge in revenues from the nation's first big offshore energy development, an oil and gas project led by TotalEnergies The Gran Morgu project is set to begin production in 2028. Discovered reserves may allow Suriname to compete with neighboring Guyana, whose economy grew 43.6% last year, as a prominent producer. However, campaigning featured little debate about what the next government, which will hold power until 2030, should do with the income. Simons' election was agreed in a six-party deal two days after the parliamentary contest, but was not made official until Sunday's vote. Her inauguration is scheduled for July 16. Suriname's parliament backed Simons for the post by acclamation, alongside National Party of Suriname (NPS) leader Gregory Rusland as her vice president. Simons served as parliamentary speaker for a decade until 2020. She was second in vote tallies behind Santokhi, winning more than 41,700 votes. She is the head of the NDP, founded by former President Desi Bouterse, who dominated Surinamese politics for decades but died a fugitive last year. NDP founder Bouterse left office in 2020, the year after he was convicted in the 1982 murders of 15 government critics. When the conviction was upheld in 2023, Bouterse went into hiding, dying at the age of 79 at an unknown location on Christmas Eve.
CNN
06-07-2025
- Politics
- CNN
Suriname parliament elects first female president
Suriname's parliament backed Jennifer Simons as the South American country's first woman president on Sunday, setting the doctor and former parliamentary speaker on course to helm a nation on the cusp of a predicted oil boom. Surinamese lawmakers backed Simons as president six weeks after the ruling party and its top opposition nearly tied in the race for legislative seats, leading to a coalition deal to install Simons as president. Simons' opposition National Democratic Party won 18 seats and current President Chan Santokhi's Progressive Reform Party won 17 seats in the May 25 parliamentary election. Smaller parties won the remaining 16 seats. Suriname's president is elected indirectly. Following the general election, members of the National Assembly vote for the president, and a candidate must secure a two-thirds majority to win the office. 'I come into this office to serve, and I will use all my knowledge, strength and insight to make our wealth available to all of our people,' Simons, 71, said in a brief speech after lawmakers approved her appointment with a round of applause. Simons vowed to pay special attention to young people and those who have not yet had the best opportunities. 'I am very aware of the responsibility now placed on our shoulders, a responsibility compounded for me by the fact that I am the first woman to hold this office,' she added. 'I do not need many words. My thanks and we will get to work.' Incumbent President Chan Santokhi, a 66-year-old former police commissioner who stood for re-election, had faced criticism over a lack of protections for the poorer and more vulnerable sectors of society. Santokhi congratulated Simons on her election and told lawmakers he took responsibility for his shortcomings and hoped he would be remembered for his commitment. He said he would continue to serve the country after the transition as a member of parliament. Suriname, a former Dutch colony independent since 1975, is expected to see a surge in revenues from the nation's first big offshore energy development, an oil and gas project led by TotalEnergies The Gran Morgu project is set to begin production in 2028. Discovered reserves may allow Suriname to compete with neighboring Guyana, whose economy grew 43.6% last year, as a prominent producer. However, campaigning featured little debate about what the next government, which will hold power until 2030, should do with the income. Simons' election was agreed in a six-party deal two days after the parliamentary contest, but was not made official until Sunday's vote. Her inauguration is scheduled for July 16. Suriname's parliament backed Simons for the post by acclamation, alongside National Party of Suriname (NPS) leader Gregory Rusland as her vice president. Simons served as parliamentary speaker for a decade until 2020. She was second in vote tallies behind Santokhi, winning more than 41,700 votes. She is the head of the NDP, founded by former President Desi Bouterse, who dominated Surinamese politics for decades but died a fugitive last year. NDP founder Bouterse left office in 2020, the year after he was convicted in the 1982 murders of 15 government critics. When the conviction was upheld in 2023, Bouterse went into hiding, dying at the age of 79 at an unknown location on Christmas Eve.
Washington Post
06-07-2025
- Politics
- Washington Post
Suriname's parliament elects the country's first female president amid economic turmoil
PARAMARIBO, Suriname — Suriname 's parliament Sunday elected physician Jennifer Geerlings-Simons as the troubled country's first female president. The South American country's National Assembly chooses the president by a two-thirds vote. Geerlings-Simons, a congresswoman, ran unopposed after her party formed a coalition aimed at ousting the country's current leader following a May election with no clear winner.
