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


Egypt’s Strategic Water Security: The myth and the truth 2017-03-24 08:19:56 By Ermias Hailu Following to the end of the second world war Egypt’s failure to integrate Eritrea to its territories, due to Emperor Haile Selassie’s superior diplomatic skills, the then Pan- Arab (...)

South Sudan famine is a wake-up call to revive dead peace deal 2017-03-20 15:57:01 By Brian Adeba News that a famine has been declared in South Sudan is yet another stark reminder of the ever evolving nature of war-induced fragility in Africa’s newest country. As the world (...)

Africa’s next level of economic transformation 2017-03-20 05:57:00 By Jim Yong Kim The G20 finance ministers met last week in Germany to discuss critical challenges facing the global economy, from climate change to migration to humanitarian emergencies like the (...)


MORE






Latest Press Releases


Statement by South Sudanese Communist Party on the National Dialoguel 2017-03-22 05:44:42 The Communist Party of South Sudan On the Initiative of the National Dialogue The initiative taken by the President of the Republic of South Sudan declaring a need for a national dialogue is an (...)

An Appeal to President of the Republic of South Sudan 2017-03-15 07:22:45 Dear. Mr. President, I write to appeal to you for the release of political detainees now in the custody of the National Security Service at Jebel and other detention facilities. In doing this, I (...)

Militias of Bashir’s Regime and the Proxy War (1) 2017-02-08 21:49:09 Sudan Democracy First Group Militias of Bashir’s Regime and the Proxy War (1) War in the Blue Nile: Militias in the hunt of refugees and displaced population Introduction Throughout its rule, (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.