Suriname is a small, natural resource-rich, densely forested, upper-middle-income country, which, though it has great economic potential, is undergoing challenging times. Substantial offshore oil deposits were recently discovered in the Suriname-Guyana Basin, with potentially significant implications for the country's fortunes in the medium term. Weak institutions and governance challenges, however, are holding back growth and development. This systematic country diagnostic (SCD) identifies the strengthening of the institutions that contribute to accountability and good governance as the critical challenge to inclusive and sustainable growth. Converting oil revenues into assets that support sustainable and equitable growth will require public spending and investment without overwhelming the absorption capacity of the domestic economy, prudent fiscal policy, and the saving of some of the resource wealth in foreign financial assets. Significant and urgent improvement in governance and institutions is needed to achieve this outcome.