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


The long history of buying loyalty to neutralize rivals in South Sudan 2016-07-26 21:13:20 By Brian Adeba The replacement of South Sudan’s First Vice President Riek Machar with Taban Deng is a well-tested policy that dates back to the 1980s that the ruling Sudan People’s Liberation (...)

EU sidesteps human rights standards 2016-07-26 20:37:31 By Ahmed H. Adam and Ashley D. Robinson In the European Union’s struggle to manage its refugee crisis, is it sidestepping human rights standards by funneling funding to war criminals through the (...)

USA meddling in independence of South Sudan amidst coup d’état 2016-07-25 07:23:54 by Steve Paterno and Scott Morgan When a Country celebrates their Independence Day it’s generally considered to be a festive occasion. For the United States, John Adams envisioned a day with (...)


MORE






Latest Press Releases


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 (...)

South Sudan: Civilians Killed, Tortured in Western Region 2016-05-24 22:01:01 Human Rights Watch For Immediate Release South Sudan: Civilians Killed, Tortured in Western Region Provide Justice for Army Abuses in Western Regions (Nairobi, May 24, 2016) – South Sudanese (...)

Open Letter to President Salva Kiir and 1st Vice President Dr. Riek Machar 2016-04-18 12:36:12 South Sudan Women United April 15, 2016 Your Excellencies: South Sudan Women United writes to congratulate you both on the steps you are taking towards ending violence in South Sudan and (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.