Gillmore Hoefdraad

Gillmore Hoefdraad
Born	(1962-12-17) December 17, 1962 Paramaribo, Suriname
Occupation(s)	Economist, politician
Years active	1988–2021
Known for	Governor of the Central Bank of Suriname (2010–2015); Minister of Finance (2015–2020)

Gillmore André Hoefdraad (born 17 December 1962) is an economist and political figure from Suriname. He held the position of Governor at the Central Bank of Suriname between 2010 and 2015, followed by his role as Minister of Finance from 2015 until 2020. In January 2020, it was disclosed that US$100 million had vanished from the Central Bank’s funds. By July 2021, an Interpol red notice was issued for his arrest. On 17 December 2021, Hoefdraad was convicted in absentia and sentenced to 12 years in prison.

Biography

Born in Paramaribo, Hoefdraad pursued economics studies at the University of Santiago de Cuba. His career at the Central Bank of Suriname began in 1988, alongside an academic role lecturing at the Anton de Kom University. In 1999, he transitioned to work with the International Monetary Fund based in Washington DC.

Hoefdraad was appointed Governor of the Central Bank in 2010 and later became Minister of Finance in 2015 during President Desi Bouterse’s administration. Throughout his ministry, he approved a total of 92 loans, which caused the national debt to rise from SRD 9.2 billion to SRD 20.7 billion. In response, the Progressive Reform Party lodged a complaint in 2019 accusing him of surpassing the legal debt ceiling. Subsequently, legislation was enacted by the National Assembly to eliminate criminal penalties related to exceeding this threshold.

In early 2020, revelations emerged about a missing sum of US$100 million from the Central Bank’s reserves; Vice President Ashwin Adhin stated that these funds had been utilized for essential imports including items like potatoes and onions.

By April 2021, prosecutors aimed to press charges against Hoefdraad concerning dubious dealings between the Central Bank and Belgian company Clairfield. Following this, an Interpol red notice was issued in July 2021 citing accusations such as money laundering, embezzlement, and corruption. Although an exit ban was imposed, Hoefdraad was later observed in Skeldon, Guyana.

On 17 December 2021, he received a sentence in absentia of 12 years imprisonment and a fine amounting to SRD 500,000 for offenses including breaches of anti-corruption statutes, misappropriation of state assets, involvement in a criminal organization, and embezzlement. An appeal against this verdict was submitted on 24 December.