This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.nytimes.com/2020/03/25/world/americas/suriname-economic-crisis.html
The article has changed 25 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Economic Crisis Prompts a Showdown, and a Shutdown, in Suriname | Economic Crisis Prompts a Showdown, and a Shutdown, in Suriname |
| (3 days later) | |
| PARAMARIBO, Suriname — Suriname ground to a halt on Wednesday as its banks, shops and factories shuttered in a showdown between its beleaguered private sector and its authoritarian government over how to respond to a deepening economic crisis. | PARAMARIBO, Suriname — Suriname ground to a halt on Wednesday as its banks, shops and factories shuttered in a showdown between its beleaguered private sector and its authoritarian government over how to respond to a deepening economic crisis. |
| The closures brought a new and unpredictable tension to the streets of Paramaribo, the capital of this nation in the north of South America. Most people stayed home to comply with measures to fight the coronavirus pandemic. | The closures brought a new and unpredictable tension to the streets of Paramaribo, the capital of this nation in the north of South America. Most people stayed home to comply with measures to fight the coronavirus pandemic. |
| But anxiety mounted as ATMs ran dry in the cash-based economy and supermarkets, afraid of being overrun by nervous shoppers, were closed. | But anxiety mounted as ATMs ran dry in the cash-based economy and supermarkets, afraid of being overrun by nervous shoppers, were closed. |
| “This may shut down the entire economy,” said Steven Coutinho, the head of the country’s largest lender, De Surinaamsche Bank, which halted operations Tuesday. | “This may shut down the entire economy,” said Steven Coutinho, the head of the country’s largest lender, De Surinaamsche Bank, which halted operations Tuesday. |
| The showdown made Suriname, a Dutch-speaking ethnic melting pot of 600,000, the latest and most extreme example in South America of how the pandemic and a plunge in commodity prices are destabilizing weak economies and polarizing political systems. | The showdown made Suriname, a Dutch-speaking ethnic melting pot of 600,000, the latest and most extreme example in South America of how the pandemic and a plunge in commodity prices are destabilizing weak economies and polarizing political systems. |
| Ecuador and Venezuela asked the International Monetary Fund for an emergency bailout in the past week, and neighboring Guyana is paralyzed by a disputed election. | Ecuador and Venezuela asked the International Monetary Fund for an emergency bailout in the past week, and neighboring Guyana is paralyzed by a disputed election. |
| The slide in the price of Suriname’s two main export commodities, oil and gold, over the past month has effectively left the country without enough hard currency to pay off its debt and import basic goods, leaving the country on the verge of default. | The slide in the price of Suriname’s two main export commodities, oil and gold, over the past month has effectively left the country without enough hard currency to pay off its debt and import basic goods, leaving the country on the verge of default. |
| In addition, the departure of Dutch tourists as a result of the pandemic, which has sickened eight people in Suriname so far, has deprived the street economy of a significant source of euros. | In addition, the departure of Dutch tourists as a result of the pandemic, which has sickened eight people in Suriname so far, has deprived the street economy of a significant source of euros. |
| Suriname’s economy has gone into a tailspin just as the country is preparing for a crucial vote. In May, its president, the former military dictator Dési Bouterse, will seek another term despite being convicted of homicide by Surinamese judges and of drug trafficking charges by the Dutch. | Suriname’s economy has gone into a tailspin just as the country is preparing for a crucial vote. In May, its president, the former military dictator Dési Bouterse, will seek another term despite being convicted of homicide by Surinamese judges and of drug trafficking charges by the Dutch. |
| His son, Dino Bouterse, is serving time in an American prison on drug- and terrorism-related offenses. | His son, Dino Bouterse, is serving time in an American prison on drug- and terrorism-related offenses. |
| In an effort to shore up the local currency, stem inflation and stop capital flight ahead of the vote, the government imposed strict new restrictions on foreign currency transactions. The governing party pushed the measure through Parliament at 5 a.m. on Saturday, and it took effect on Tuesday. | In an effort to shore up the local currency, stem inflation and stop capital flight ahead of the vote, the government imposed strict new restrictions on foreign currency transactions. The governing party pushed the measure through Parliament at 5 a.m. on Saturday, and it took effect on Tuesday. |
| The restrictions outraged business people and bankers, who say they repeat the currency controls that ruined neighboring Venezuela, a rare regional supporter of Mr. Bouterse. To repudiate the new limits, they brought commerce to a screeching stop. | The restrictions outraged business people and bankers, who say they repeat the currency controls that ruined neighboring Venezuela, a rare regional supporter of Mr. Bouterse. To repudiate the new limits, they brought commerce to a screeching stop. |
| “What has happened cannot and will not be tolerated,” said the Association of Surinamese Industry and the Association of Surinamese Manufacturers, which called on its members to strike in a joint statement. One of Suriname’s biggest food companies, Fernandes Group, closed most of its businesses on Wednesday, provoking a run on bread. | “What has happened cannot and will not be tolerated,” said the Association of Surinamese Industry and the Association of Surinamese Manufacturers, which called on its members to strike in a joint statement. One of Suriname’s biggest food companies, Fernandes Group, closed most of its businesses on Wednesday, provoking a run on bread. |
| Updated June 12, 2020 | |
| Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. | |
| So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. | So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. |
| A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. | A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. |
| The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. | The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. |
| Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission. | Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission. |
| Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home. | Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home. |
| States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people. | States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people. |
| Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. | Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. |
| If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) | If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) |
| Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications. | Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications. |
| The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing. | The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing. |
| If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. | If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. |
| If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested. | If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested. |
| The new measure made black market currency transactions punishable by up to three years in prison, and created a militia to stamp out illicit trading. But even as these measures were rolled out on Tuesday, the cost of a dollar on the black market jumped to double the official rate as Surinamese rushed to get the scarce hard currency. | The new measure made black market currency transactions punishable by up to three years in prison, and created a militia to stamp out illicit trading. But even as these measures were rolled out on Tuesday, the cost of a dollar on the black market jumped to double the official rate as Surinamese rushed to get the scarce hard currency. |
| Some in the country agreed with the government’s stringent measures, arguing that the inflation stoked by the black currency market was making life too expensive. | Some in the country agreed with the government’s stringent measures, arguing that the inflation stoked by the black currency market was making life too expensive. |
| “The government had to intervene,” said Satish Roopram, a tour operator in Paramaribo, whose business is suffering from devaluation. The black market “is driving up prices in the shops enormously. It must be stopped.” | “The government had to intervene,” said Satish Roopram, a tour operator in Paramaribo, whose business is suffering from devaluation. The black market “is driving up prices in the shops enormously. It must be stopped.” |
| But, crucially, the new law allows the government to pay back its dollar loans to local banks in the national currency, effectively writing off a big chunk of its debt obligations, the bankers say. | But, crucially, the new law allows the government to pay back its dollar loans to local banks in the national currency, effectively writing off a big chunk of its debt obligations, the bankers say. |
| The write-off follows the government’s unilateral decision in January to take about $250 million of the private banks’ hard currency to import basic goods. | The write-off follows the government’s unilateral decision in January to take about $250 million of the private banks’ hard currency to import basic goods. |
| “They took our funds, and now they are shoving this new law down our throats,” said Mr. Coutinho, the banker, adding that the banks and the ATMs will remain shut until the new law is repealed. | “They took our funds, and now they are shoving this new law down our throats,” said Mr. Coutinho, the banker, adding that the banks and the ATMs will remain shut until the new law is repealed. |
| Harmen Boerboom reported from Paramaribo, Suriname, and Anatoly Kurmanaev from Caracas, Venezuela. | Harmen Boerboom reported from Paramaribo, Suriname, and Anatoly Kurmanaev from Caracas, Venezuela. |