Suriname's president plans to give each citizen $750 annually from oil wealth, aiming to avoid resource curse.

Suriname's President Chan Santokhi announced a plan to share oil wealth with all citizens, providing each with $750 in a savings account at 7% annual interest. The South American nation, alongside neighbor Guyana, expects to earn billions from offshore oil deposits. To avoid the "oil curse" seen in other resource-rich countries, Suriname plans to establish a sovereign wealth fund, similar to Norway's successful model.

November 25, 2024
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