b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 (Continued)SECTION 8. TheGroupusestheofficialexchangerateOTHER published by the Central bank of Suriname for payments and processing transactions.8.1 EVENTS AFTER THE REPORTING PERIODDowngrade of Surinames Long-Term Foreign Currency Issuer Default RatingOil discoveryFitchRatingshasdowngradedSurinamesLong-OnJanuary14,2021,TotalandApache TermForeignCurrencyIssuerDefaultRating(IDR)Corporationmadeanewsignificantoilandgas toRDfromC.SurinamesShort-TermForeigndiscoveryattheKeskesiEast-1well,inBlock58 CurrencyIDRisaffirmedatCinApril2021offthecoastofSuriname.ThisfollowspreviousdiscoveriesatMakaCentral,SapakaraWestand ThetwoissueratingsonSurinamesUS$550Kwaskwasi. millionnotesdue2026andUS$125millionnotesdue2023onwhichthegovernmenthasdefaultedThewellwasdrilledatawaterdepthofabout weredowngradedtoDfromC.725metersandencounteredatotalof63metersnetpayofhydrocarbons,comprisedof58meters ThegovernmentofSurinamecontinuestonetblackoil,volatileoil,andgaspayingood negotiate with creditors for a comprehensive qualityCampano-Maastrichtianreservoirs,along restructuringofitsexternalbonds,whichhasbeenwith 5 meters of net volatile oil pay in Santonianaprotractedprocess.Thenationalauthoritiesarereservoirs concurrentlypursuingafundedIMFprogram.TotalassumedoperatorshipofBlock58on Impact of COVID-19 PandemicJanuary1st,2021,witha50%workinginterest. Lookingahead,followingtheoutbreakoftheNew Suriname Tax MeasuresCOVID-19pandemic,theGroupseesincreaseduncertainties and economic disruption because Duetotheveryprecariousstateofthefinancial of the outbreak. In the event of a prolonged affairsofSuriname,thegovernmenthastaken pandemic there may be a negative effect on our fiscalmeasurestodealwiththeproblemsrelated customers and overall business activity which tothefinancingofthenationalbudget.The maynegativelyimpactthefinancialperformancegovernmenthasintroducedthesolidaritylevy,as oftheGroup.TheGrouphastakenmeasurestopart of the measures to increase tax revenues.ensure that its employees and partners continue IncomeaboveSRD150,000willbetaxedwith tobesafewhileinteractingtogether.Measures10%extraasofFebruary1,2021.Thissolidarity havebeentakentominimizetheimpactofthelevyistemporaryandexpiresonJanuary1,2022. pandemic and to continue operations. Because of this levy the Corporate income tax and Wagestaxratewillincrease. GiventheevolvingnatureofCOVID-19,uncertainties will remain and currently it is not OthermeasuresareincreaseoftheTurnover possible to accurately estimate the future impact of taxratefrom10to12%forimportofgoods.This thepandemiconthefuturefinancialperformanceincreasewillalsoenterintoforceonFebruary1, oftheGroup.Wecontinuetomonitorthissituation2021andappearstobeatemporarymeasureasit and its potential impact on our operations and will hasbeenannouncedthattheentireTurnoverTax take further action as necessary in response to the will most likely be replaced by the Valued Addedeconomic disruption.Taxin2022.Exchange rate OnMarch1,2021,theGovernmentofSurinameintroduced a range for the exchange rate ofSRD14.29SRD16.30forone(1)USDdollar.Thisinanattempttoinfluencethevolatilityandtostabilizetheexchangerate.Thiswillhaveanimpact on the Group.155'