Suriname sharing the wealth

Dec 04, 2024 News

…Editorial

Kaieteur News- Whatever our other difficulties with Suriname, only kudos could come for President Chan Santokhi for the ‘royalty’ decision announced by his government. Each citizen of Suriname will get US$750 deposited into their savings account.

There is the incentive to let it stay there and earn more from the 7% interest rate attached. This decision represents giving to Surinamese something from what they own, their natural resource wealth. Looking at that in isolation, what could be a better example of prudent oil leadership that partners with every citizen, extends national riches to them.

The oil is scheduled to start flowing in 2028, fours years from today. But here it is that Suriname’s leader put a chain of events in motion, and then acted upon recommendations. Pursuant to the Suriname Constitution, citizens are co-owners of their natural resource endowments. Words on a sacred national document made to come to life by a government and a leader that are determined to share the wealth. It is by a mechanism to ensure that the wealth is spread so broadly that every man, woman, and child can appreciate, can enjoy, their ownership of oil and gas assets, and taste the benefits.

Without a doubt, President Santokhi and his team are aware that new infrastructure is a vital necessity, as well as the proper maintenance of what has already been built. But they are also familiar with the fact that there is one out of every five Surinamese who are battling with poverty, according to the World Bank. In a country gearing up to produce 220,000 barrels of oil daily before the end of this decade, Santokhi and his government put all the people of Suriname on the front burner.

All of them and not just one segment, as was announced during the president’s Independence Day address. All of them whether viewed as allies or adversaries. Through this alone, it is obvious that from this early stage that the incumbent Suriname government is using the country’s oil to inspire the people of Suriname and not to disappoint them with deceptions and prevarications. Approximately 10% of Suriname’s 600,000 population is over the age of 60. They would be among those likely who dreamed of the discovery of oil, and then lived a piece of the dream, before going to the great beyond.

The citizens of impoverished Third World countries dotted across the globe look at oil producing nations, and long for their country to be among them. Guyana joined that exclusive club five years ago. Suriname is readying to begin its production, with the thinking over there being how to share the wealth and spread the joy, so that every citizen feels like they belong to an oil producing nation. Because its fruits come to them in what is tangible, because money talks. Promises can be poured down the toilet, for all they are worth, and especially when they keep changing, are ignored.

To prioritize the interests of citizens, all of them, must be the greatest driving force, the first instinctive reactions, of leaders. But only honest political leaders, thoughtful and unselfish leaders, are capable of dealing in and living up to such a priority. By no stretch of the imagination will the smaller population of neighbouring Suriname be projected to be reckoned among the richest people in the world, with mindboggling Gross Domestic Product growth. The estimated daily oil production which is expected to come on later for Suriname is healthy, but it is not in the million plus daily barrel category that is soon to be Guyana’s. But from these early, exciting days, there is President Santokhi giving his people a lift, showing them what the oil can do for them. Beside sharing the wealth and encircling every citizen to be a participant in their oil prosperity, the US$750 savings account promise and provision with a 7% interest rate alongside, speaks impressively about caring leadership.

Though the temptation was present to make comparisons with the bankruptcy of Guyanese political leadership, that is left for another day. It is better that President Santokhi’s language echoes resoundingly from Suriname to Guyana and create its own impression. It is sure to be impressive, give Guyanese pause, make them think.

(Suriname sharing the wealth)

000 population, 600, Natural Resource, President Chan Santokhi, Suriname sharing the wealth, Surinamese

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