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 2014 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


National dialogue building nation 2017-05-22 21:10:41 By Amb. Dhano Obongo Initially, I congratulate and commend H.E the President of the Republic of South Sudan, Gen. Salva Kiir Mayardit, for recognising the need for a national dialogue among 64 (...)

The raging just revolution in Darfur will continue burning until victory 2017-05-22 21:04:22 By Mahmoud A. Suleiman Author Mahmoud Yusuf says that we live in a historical stage full of serious events that will affect the future of mankind on this planet, including what is related to (...)

South Sudan: How culture of revenge inhibits development and progress 2017-05-13 08:09:39 By Steve Paterno Admittedly, revenge or the act of it is inherently human in nature. The human beings since biblical times could not dissuade from the proverbial practice of an 'eye for an eye.' (...)


MORE






Latest Press Releases


HRW denounces "collective punishment" in South Sudan’s Wau 2017-04-15 07:06:48 Human Right Watch South Sudan: New Spate of Ethnic Killings Urgent Need for Justice; UN Should Increase Patrols in Wau (Nairobi, April 14, 2017) – Government soldiers and allied militias (...)

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 (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.