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January 15, 1999

OVERNMENT WORKERS UNIONS DISAPPOINTED WITH OUTCOME DISCUSSIONS

After two rounds of discussions with representatives of the government the combination of government workers unions have decided that it was fruitless to go on and would like to have another talk with President Jules Wijdenbosch. The Unions are demanding a substantial increase of 100 percent in salary for the workers. In this way they hope to help the workers survive the present situation.The unions would like to settle this matter before the 19^th of this month. The unions will then try to work out other financial regulations with the government in connection with the unification of the Suriname guilder. Two main agenda points are buying power and the States Medical Fund (SZF) question. The group of ministers with whom the organisations have held discussion have tried to explain to them the fact that the butget for 1999 has not yet approved and that they would not like to interfere with butgetary law of the parliament. Tthe ministers also brought up the categorical matter concerning groups presentages. FOLS chairman, Robby Naarendorp, reported that the three unions (FOLS, CLO, BvL) are disoppointed with the outcome of the meetings especially since the president had stated during his meeting with them that he would like this matterr settle as quickly as possible so that the schools could begin the second term in a normal manner.

SURINAM POWER COMPANY (EBS) CONVERTS OLD DEBTS INTO DOLLARS

Many businesses, social institutes especially hospitals werre surpriced at the E.B.S.'s latest regualtion of converting outstanding debts into dollars and well at the present Central Banks daily rates. The E.B.S. said that they had to do thiss to meet with their high financial problems. This sudden regulation will have a negative effect on both businesses as well as on hospitals and other iinstitutions. Especially the hospitals that are still waiting for the billions of guilders that the government owes them.

COMMITTEE OF CARICOM OF CENTRAL BANKS PRESIDENTS HOLD MEETINGS IN SURINAME

The committee of Caricom Central Bank presidents will meet today in Pararamribo. Henk Goedschalk of the Central Bank will lead the meeting. At this half year meeting the attention will be given to the FTAA, the worlds largest industrial block.

GENERAL STATISTIC BURUEA NOTES HIGHEST INFLATION IN THREE YEARS

The General Statistic Bureau has registered an inflation of 18,9 % for 1998. This is the highest figure after a deflation of 0,7% in 1996. The inflation began in 1997 with 7,1% and has rissen to 18,8% in 1998. Even though the exchange rates for foreign currency have rissen by 100% and the prices for al goods in Suriname have increased by more than 100%.