Home | News    Wednesday 13 August 2014

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


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”.


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


    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

Why rejecting creation of more states in South Sudan? 2015-10-05 16:31:37 By Peter Gai Manyuon South Sudanese president Salva Kiir has unilaterally decreed expansion of the current Ten (10) states to 28 federal states in the country in an unexpected move announced on (...)

Why the order establishing 28 states should be nullified 2015-10-04 10:29:29 By James Okuk On Friday 2nd October 2015 in Juba and quoting as usual Article 101 of Transitional Constitution of South Sudan (2011), President Salva Kiir Mayardit issued “Establishment Order (...)

Who to benefit from the Somaliazation of South Sudan? 2015-10-01 19:01:51 By Steve Paterno The question above is becoming more prevalent now more than ever, with the "imposition of peace agreement", (to borrow Riek Machar's phrase), along with President Salva Kiir's (...)


Latest Press Releases

Sudan Democracy First Group Statement on The International Day for Democracy 2015-10-01 22:18:58 22 September 2015 Sudan Democracy First Group (SDFG) commemorated on 15 September 2015 the International Day for Democracy, which the United Nations (UN) marks as a day to encourage governments (...)

Ambassador Buay congratulates South Sudanese diplomats for blocking sanctions 2015-09-19 00:20:30 SOUTH SUDAN DIPLOMATS IN MOSCOW SHOULD BE CONGRATULATED FOR PERSUADING THE FEDERATION OF RUSSIA TO BLOCK SANCTIONS For Immediate Release 9/18/2015 The people of South Sudan are extremely (...)

HRW urges African Union and United Nations to protect civilians in Darfur 2015-09-10 07:10:11 Sudan: Special Force Rampages in Darfur UN, AU Should Urgently Increase Civilian Protection (New York, September 9, 2015) – A Sudanese government special force has gone on two sprees of killings (...)


Copyright © 2003-2015 SudanTribune - All rights reserved.