Suriname was first explored by the Spaniards in the 16th century and
then settled by the English in the mid-17th century, Suriname became
a Dutch colony in 1667. With the abolition of slavery in 1863,
workers were brought in from India and Java. Independence from the
Netherlands was granted on November 25th, 1975. Five years later the
civilian government was replaced by a military regime that soon
declared a socialist republic. It continued to exert control until
1987, when international pressure finally forced a democratic
election. In 1990, the military overthrew the civilian leadership,
but a democratically elected government returned to power in 1991
and has ruled since.
Suriname is the smallest country in continental South America. To
the North it boarders the Atlantic Ocean, to the South Brazil, to
the East Guyana and to the West French Guiana. The climate is
tropical, with the country mostly made up of tropical rain forest.
There is a great diversity of flora and fauna that, is increasingly
threatened by new development.
The country is about the size of the US
state Georgia, it has a relatively small population of 470,000,
which, lives mostly along the coast. The population is 37%
Hindustani also know as East Indians, 31% Creole, 15% Javanese, 10%
Amerindian, and 2% Chinese. The official language is Dutch,
although English is widely spoken.
The Republic of Suriname is a constitutional
democracy. The Capital is Paramaribo. The constitution was
officially ratified on September 30, 1987. The President of
Suriname is Runaldo Venetiaan, he is both the chief of state and
head of government.
The economy is dominated by the mining
industry, which accounts for more than a third of GDP and subjects
government revenues to mineral price volatility. The short-term
economic outlook depends on the government's ability to control
inflation and on the development of projects in the bauxite and gold
mining sectors. The government of Ronald VENETIAAN, in his first
term, implemented an austerity program, raised taxes, and attempted
to control spending. Economic policies are likely to remain the same
during VENETIAAN's second term. Prospects for local onshore oil
production are good as a drilling program is underway. Offshore oil
drilling was given a boost in 2004 when the State Oil Company (Staatsolie)
signed exploration agreements with Repsol, Maersk, and Occidental.
Bidding on these new offshore blocks was completed in July 2006
The Gross Domestic Product of Suriname is
$3.098 billion. They export $881 million in lumina, crude oil,
lumber, shrimp and fish, rice, and bananas to Norway, the United
States, Canada, and Belgium. Suriname imports $750 million in
capital equipment, petroleum, food, cotton, and consumer goods.
They import from the United States, the Netherlands, Trinidad and
Tobago, China, Japan, and Brazil. The official currency is the
Surinamese Dollar. The exchange rate is approximately 2.5
Surinamese Dollars for every U.S. Dollar. (2006 est.)
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