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Suriname 2.0

"The economy is dominated by the mining industry, with exports of alumina, gold, and oil accounting for about 85% of exports and 25% of government revenues, making the economy highly vulnerable to mineral price volatility. Economic growth, which reached about 7% in 2008, owing to sizeable foreign investment in mining and oil, slowed to 2.2% in 2009 as investment waned and the country earned less from its commodity exports when global prices for most commodities fell. Trade picked up, boosting Suriname's economic growth about 4% per year in 2010-12, but the government's budget remained strained. Inflation rose from 1.3% in 2009 to 17.7% in 2011. In January 2011, the government devalued the currency by 20% and raised taxes to reduce the budget deficit. As a result of these measures, inflation receded to 6% in 2012. Suriname's economic prospects for the medium term will depend on continued commitment to responsible monetary and fiscal policies and to the introduction of structural reforms to liberalize markets and promote competition." (https://www.cia.gov/library/publications/the-world-factbook/geos/ns.html, Accessed on 3 April 2013)

The economy grows, but Suriname suffers from the resource curse and lack of fiscal discipline. Education and good governance are part of the recipe, but I do not know how this is going the happen.

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