Home | News    Friday 7 February 2014

IMF delegation in Sudan for talks on debt relief

separation
increase
decrease
separation
separation

February 6, 2014 (KHARTOUM) – Sudan’s Central Bank Governor Abdel-Rahman Hassan Abdel-Rahman discussed on Thursday with a mission from the International Monetary Fund (IMF) the implementation of a program prepared by the IMF at the request of Khartoum as one of the requirements needed for considering debt relief.

JPEG - 13.3 kb
Sudan Central Bank governor Abdel-Rahman Hassan (Ashorooq TV)

According to a bank circular, the two sides discussed Sudan’s economic policies, central bank policies and the 2014 program along with Sudan’s foreign debt situation and the prospects for relief.

The governor urged the IMF to assist in debt relief noting that countries in similar situation benefited from such initiatives.

The meeting also discussed technical support provided by the IMF and its contribution to the qualitative performance of the Central Bank with the governor caling for more support to improve it further.

Sudan’s external debt is estimated to have grown by 27% since 2008 from $32.6 billion to $41.4 billion in 2011.

The International Monetary Fund (IMF) said in a report released last November that Sudan’s debt will hit $44.7 billion in 2013 which amounts to 85% of its Gross Domestic Product (GDP).

Last year, the deputy director of the Middle East and Central Asia department at the IMF, Edward Gemayel, warned that it will be near impossible for Sudan to secure debt relief even if it satisfied technical and economic requirements.

Gemayel, who led a delegation to Khartoum, went on to say that Sudan won’t be able to benefit from the Heavily Indebted Poor Countries (HIPC) initiative despite fulfilling its conditions unless it succeeds in convincing all 55 members of the Paris Club creditor nations whom he said have the power to slash 67% of conventional debt owed by Sudan

Last month, the British Minister for Africa Mark Simmonds said that resolving Sudan’s debts is contingent upon Khartoum approving poverty reduction strategy which means the ball is in its court.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


When threatened, nature fights back: A case for wetlands 2016-09-26 10:24:12 By Dr. Abdulkarim Seid At a glance, wetlands – large expanses of swamps – seem like public nuisances, a waste of space; occupying prime land which could otherwise be turned into sprawling shopping (...)

UNHRC Meetings: Is it a “diplomatic conspiracy” and “CSOs camouflage”? 2016-09-26 06:01:34 Notions From the United Nations Human Rights Council in its 33rd Session on Sudan: Is it a “Diplomatic Conspiracy” and “CSOs camouflage”? By Mohamed Yassin As an attendee of the UN Human Rights (...)

U.S. interests with the Sudan made the Darfur issue disappears from the radar 2016-09-23 20:21:06 By Mahmoud A. Suleiman U.S. only Cares for Interests U.S. Department of State Office of the Spokesperson, John Kirby, stated on September 20, 2016 that the United States welcomes cooperation (...)


MORE






Latest Press Releases


Sudan: No justice for protester killings 2016-09-23 08:03:30 (Nairobi, September 22, 2016) – Sudanese authorities have yet to provide justice to victims of a violent crackdown on anti-austerity protesters in Khartoum in September 2013, the African Centre (...)

Kiir’s rope -à-dope 2016-09-08 12:57:35 COMMUNIQUE September 6, 2016 By Pa’gan Amum Okiech for South Sudan Reborn The United Nations Security Council, with all of its strength and power, is now being challenged by a diplomatic (...)

Sudanese students, activists are at risk of torture: HRW 2016-05-25 14:40:51 Human Rights Watch Sudan: Students, Activists at Risk of Torture Free Detainees; Investigate Abuses (Nairobi, May 25, 2016) – Sudanese national security officials have detained dozens of (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.