The Indian government has agreed to a request from Suriname for restructuring the “relatively small” debt of US$38 million.

That’s according to Foreign Affairs, International Business and International Cooperation Minister, Albert Ramdin.

The debt restructuring exercise is seen as very important in order to release resources from India with Ramdin, stating that with the approval of the Indian government, the process can be completed.

Ramdin said Suriname is hoping that China has taken note of the restructuring agreement with India.

Ramdin said Suriname’s debt to China’s debt is between US$400 and US$500 million, but remains hopeful that the Dutch Caribbean country will soon reach an agreement with China.