Home | News    Wednesday 13 August 2014

Sudan receives $1.22bn in credit guarantees from Qatar: official

separation
increase
decrease
separation
separation

August 13, 2014 (KHARTOUM) – The governor of the Central Bank of Sudan (CBoS), Abdel-Rahman Hassan Abdel-Rahman, disclosed that Sudan received $1.22 billion in credit guarantees from Qatar following the visit by president Omer Hassan Al-Bashir to Doha last month.

JPEG - 43.4 kb
Sudanese president Omer Hassan al-Bashir (L) and the Emir of Qatar Sheikh Tamim bin Hamad al-Thani in Doha on 8 July 2014 (QNA)

The Qatari newspaper al-Sharq on Tuesday quoted Abdel-Rahman as saying that the governor of the Qatar Central Bank (QCB), Abdullah Bin Saud, agreed to provide Sudan with $500 million in credit guarantees to import Qatari products, noting that the step would encourage Qatari companies and businesses to export their products to Sudan.

The agreement stated that Qatar National Bank would offer $750 million in credit lines to improve Sudan’s financial position and import basic and strategic goods besides stabilizing the exchange rate of the Sudanese pound against major international currencies.

The Sudanese finance minister Badr Al-Deen Mahmoud last April announced that Qatar deposited $1 billion in the CBoS as part of an aid package.

Sudan has been struggling with what was described as an economic shock following the loss of the oil-rich south in July 2011. Oil revenues constituted the majority of Sudan’s exports, national income and source of hard currency.

One US dollar is now trading at 9.4 Sudanese pounds (SDG) in the black market. The official exchange rate is around 5.7 pounds to the dollar.

Qatar has been one of the few countries where Sudan enjoys relatively warm relations with. For years the rich Arab Gulf state has hosted peace talks between the Sudanese government and Darfur rebel groups which eventually resulted in the signing of a peace accord in 2011.

In 2012, Qatar announced that it will inject $2 billion of investments in Sudan including “the purchase of government bonds issued by the Sudanese government and investments in different sectors particularly mining, oil, agriculture and services”.

(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.
  • 14 August 07:11, by ForAll

    Money...Money...Money...Money...Money...Money...Money...Money...

    What are the urgent projects that will support and change Sudan???

    Let’s plan for solving our problems and remove all viruses from our economy

    repondre message

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 theory of African president and prime minister, working together 2014-11-22 05:32:12 By Steve Paterno November 21, 2014 - Africa is notoriously known for political instability, stemming in most cases, over power struggle among the ruling elites. Often times, the best and quick (...)

The UNAMID internal report on mass rape in Tabit. 2014-11-21 06:09:21 What UNAMID really said about their investigation of mass sexual assaults on Tabit: The internal report on what investigators found By Eric Reeves November 20, 2014 - On November 12, 2014 (...)

Bullying Darfur 2014-11-13 18:13:39 By Namaa Al-Mahdi November 13, 2014 - “We broke their backs in Abu Karshola, I doubt they have recovered since,” said a prominent Sudanese Armed Forces (SAF) member about their counter attack on (...)


MORE








Latest Press Releases


Sudan Democracy First Group condemns wave of arbitrary arrests in Sudan 2014-09-25 05:17:35 Sudan Democracy First Group 25 September 2014 - In a desperate attempt to prevent a series of events commemorating the victims of the September 2013 protests, Sudan’s notorious National (...)

HRW calls on UN rights body to press Sudan to investigate murder of peaceful protesters 2014-09-24 21:24:09 Human Rights Watch One Year On, No Justice for Protester Deaths (Geneva, September 23, 2014) – The United Nations Human Rights Council should call on Sudan to account immediately for the death (...)

Hundreds walk for peace in South Sudan 2014-09-23 08:30:16 National Platform for Peace and Reconciliation (NPPR) PRESS RELEASE Juba, 21 September 2014 - Hundreds of people took to the streets of the South Sudan capital Jubato ‘Walk for Peace’and demand (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.