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


Why reports on alleged atrocities are flawed 2015-07-28 08:59:54 By Joseph de Tuombuk* The recently-released Human Rights Watch and UNMISS reports on alleged atrocities committed by SPLA forces, are seriously flawed and could not withstand any challenge in (...)

UNSC Sanctioned Janjaweed Leader Musa Hilal Flaunts Travel Ban 2015-07-25 06:05:13 By Enough Team" On July 20, the Sudan Tribune reported that Musa Hilal, the leader of the notorious Janjaweed militias during the Darfur crisis, flaunted his United Nations Security Council (...)

Will the report of AU Commission of Inquiry on South Sudan be released? 2015-07-20 06:52:08 By Luka Biong Deng When the AU Peace and Security Council resolved in its meeting on 30th December 2013 to establish a Commission to investigate atrocities committed since the eruption of (...)


MORE






Latest Press Releases


Sudanese, human rights groups and advocates demand renewal of UNAMID 2015-06-25 06:03:32 FOR IMMEDIATE RELEASE CONTACT: New York: Ahmed H.Adam, Tel. +1 347 567 1491 or aha64@cornell.edu Kampala: Abdelrahman Gasim, Tel. +256 7 51 90 77 77 or gasim202000@gmail.com Geneva: Abdelbagi (...)

Civil society groups urge to stop hostilities in W. Bahr El Ghazal 2015-06-11 22:24:37 Urgent action for sustainable peace in Western Bahr El Ghazal State Civil Society Statement: June 10, 2015 Wau –Western Bahr El Ghazal State- The Republic of South Sudan We, civil society (...)

Two South Sudanese pastors face death penalty in Khartoum 2015-06-03 06:08:37 African Centre for Justice and Peace Studies Two South Sudanese Pastors face death penalty for voicing opposition to corruption scandal at Khartoum Bahri Church (2 June 2015) Two South Sudanese (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.