Building a Future Without Poverty: Suriname's Path to Inclusive Growth

As Suriname continues its path of recovery from a prolonged economic crisis, the urgent issue of poverty remains a critical challenge. While the country has made strides, poverty still affects 17.5% of the population, with 1.1% living in extreme poverty. As we recognize Poverty Day, we are reminded of the global mission articulated by the World Bank: "to create a world free of poverty on a livable planet." And it reinforces the core objective of IDBStrategy+ to reduce poverty and inequality in the region. For Suriname, in addition to maintaining fiscal and monetary discipline, achieving this vision will require addressing deep-rooted inequalities, and making inclusive growth the foundation of recovery.

The recently published Suriname Poverty and Equity Assessment, a collaboration between the Inter- American Development Bank (IDB) and the World Bank, sheds light on the multifaceted nature of poverty in Suriname. It highlights several key drivers of poverty: deficiencies in education and skills development, regional disparities, and gaps in social assistance programs, particularly for children and historically marginalized groups.

One of the most somber findings is the stark difference in poverty rates between families with children and those without. Families with children experience a poverty rate of 22%, nearly three times higher than households without children. This gap highlights the long-term risk of perpetuating poverty across generations if educational and economic opportunities are not improved swiftly for these vulnerable households.

In addition to child poverty, gender inequality continues to hinder Suriname's potential for inclusive growth. While women outperform men in educational attainment, with 15% of women completing tertiary education compared to just 6% of men, this achievement does not translate into economic gains. Women face barriers to full participation in the labor force, limiting their ability to lift themselves and their families out of poverty. By addressing these disparities, Suriname could immediately unlock a powerful engine of growth and prosperity.

Regional inequality is another persistent issue. In Suriname's interior, where a large proportion of Indigenous and Maroon communities reside, over 25% of the population lives below the poverty line. These remote communities have historically benefited less from opportunities, and without targeted interventions, they risk being left behind in Suriname's economic growth.

The path forward is clear: inclusive policies must be at the heart of poverty reduction efforts. To break the cycle of poverty, social services such as health and education as well as social assistance programs have to be enhanced, especially those targeting families with children. While Suriname's child allowance program has broad coverage, the financial transfers are modest, and many children are still left in poverty. By revamping the targeting, scope and efficiency of these programs, a safety net can truly protect the most vulnerable ensuring that every child has the opportunity to succeed.

Investing in Suriname's statistical system is equally important. The production of timely and reliable poverty and inequality statistics will be critical for informed policymaking. Accurate data allows for better targeting of vulnerable groups and ensures that poverty and inequality remain at the forefront of policy discussions and decision-making.

Poverty Day reminds us of our shared responsibility to create a more equitable Suriname. The solutions are within reach, but we must act with urgency and commitment. With the right policies in place, Suriname can move closer to a future where poverty is a thing of the past, and every citizen can thrive.

Let us seize this moment to build a more inclusive, prosperous, and resilient Suriname-one where no one is left behind in our journey toward a world free of poverty.