b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021 (Continued)However,insteadoffullysettlingtheliabilityofFair valueUS$6.3MMasofDecember31,2021,ithasonthe contrary increased further to the amount ofTheinitialrecognitionoftheloansandbondsisatUS$10.02MM. fairvaluewhilethesubsequentmeasurementisatamortizedcost,assumingthecontractualinterestThisincreaseoftheliabilitywasamongothers rateequalstheeffectiveinterestrate.Thelocalduetoheavyrainfall,negativeorereconciliations, financialmarketconsistsoftraditionalbankloansmultiworkstoppagescausedbystrikesandlocal forbusinessandisnotcapabletoprovideforthecommunityroadsblockagesandtheimpactof capitalneededforStaatsoliesgrowthstrategy.Covid-19(includingmanpoweravailabilityon Staatsoliesfinancestructurecomprisesfinancingbysite)duringthefiscalyear2021whichnegatively aconsortiumofinternationalbanks.impactedproductionvolumes.StaatsolieusesvaluationtechniquesthatareAccordingtobusinessplan2022,itisprojected appropriate in the circumstances and for which thattheoutstandingIAMGOLDLiabilitywill sufficientdataareavailabletomeasurefairincreasebytheendof2022toapproximatelyvalue,maximizingtheusesofrelevantinputsandUS$18MM. minimizingtheuseofunobservableinputs.Thisoutlook,includingthe5-yearoutlookforthe Allassetsandliabilities,forwhichfairvalueisUJVOperations,wasreasontodesignatethe measuredordisclosedintheconsolidatedfinancialIAMGOLDliabilityperStatementofFinancial statements,arecategorizedwithinthefairvaluePositiondateDecember31,2021,asLong-Term hierarchy,describedasfollows,basedonthelowestlevelinputthatissignificanttothefairvalueCommittee of sports facilitiesmeasurementasawhole:Asdecidedbytheshareholder,aportionof Level1-Quoted(unadjusted)marketpricesintheprofitattributabletotheshareholderis activemarketsforidenticalassetsorliabilities;retained in a Sport Fund to support corporate socialresponsibilityinsports.Onbehalfofthe Level2-Valuationtechniquesforwhichthesoleshareholder,theGoS,acommitteeSport lowestlevelinputthatissignificanttothefairDevelopmentFundwasestablishedinApril valuemeasurementisdirectlyorindirectly2013toconformtogovernanceprinciples.The observable;committee,comprisedofrepresentativesfromtheGoSandStaatsolie,providesguidelinesfor L evel3-Valuationtechniquesforwhichthesubmissionofproposals,approves,andmonitors lowestlevelinputthatissignificanttothefairtheallocationoffunds.Everyyear,theshareholder valuemeasurementisunobservable.decideshowmuchtowithdrawfromthisreserve. ForassetsandliabilitiesthatarerecognizedAsof2020thisreserveispresentedintheother intheconsolidatedfinancialstatementsonalong-termliabilitiesofthestatementoffinancial recurringbasis,Staatsoliedetermineswhetherposition and not as in prior year as part oftransfershaveoccurredbetweenlevelsintheStaatsoliesequity. hierarchybyreassessingcategorization(basedonthelowest-levelinputthatissignificanttotheIn2020thereservedamountoutofdividend fairvaluemeasurementasawhole)attheendofrelatedto2019wasUS$800. each reporting period.Loan receivablesFinancial risk management objectives and InaccordancewiththePowerPurchase policies AgreementdatedMarch1,2013(withlatest Market riskamendmentinApril2016)byandbetweenSPCSandtheGoS,SPCSconstructedatransmission MarketriskistheriskthatthefairvalueoffuturelinetothegridofN.V.EBS.Theaggregatedcost cashflowsofafinancialinstrumentwillfluctuateofUS$27,293wasdivestedinfavorofGoSin becauseofchangesinmarketprices.Marketrisk2016,andaccordinglyderecognizedinthebooks comprisesthreetypesofrisk:commoditypriceofSPCS.AsatDecember2018,US$16,196of risk,interestrateriskandforeigncurrencyrisk.theprincipalbalancewasrepaidbyGoS.The Financialinstrumentsaffectedbymarketriskremainingbalancewasconsideredaslong-term includeloansandborrowings,deposits,tradeloanpayableinquarterlyinstallmentwithmaturity receivables,tradepayablesandaccruedliabilities.dateofNovember2021.AsatDecember31,2021,thegroupsettledtheremainingbalanceofUS$3,669withGoS.167'