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


IGAD: Artificial solution on South Sudan conflict 2015-01-30 19:33:13 By James Gatdet Dak On Thursday, 29th of January, 2015, heads of state and government of the African regional bloc, the Intergovernmental Authority on Development (IGAD), served the warring (...)

Arms transfers to South Sudan ensure a violent future for a people desperate for peace 2015-01-28 14:06:46 By Geoffrey L. Duke Peace advocates around the world were shocked by news of China’s shipment of arms to the Government of South Sudan in June 2014. The shipment reportedly included $38 million (...)

A reading of the Arusha intra-SPLM agreement 2015-01-28 09:39:38 By: Dr Lam Akol On the 21st of January 2015, the three factions of the SPLM (now calling themselves ‘Groups’) inked in Arusha, Tanzania, an agreement dubbed “Agreement on the Reunification of the (...)


MORE








Latest Press Releases


Sudan’s Security Services raid and order closure of Mahmoud Mohamed Taha Cultural Centre 2015-01-24 03:41:41 African Centre for Justice and Peace Studies (23 January 2015) At 11am on 18 January, the National Intelligence and Security Services (NISS) of Omdurman, Khartoum state, raided the Mahmoud (...)

Women groups announce their support for Sudan Call 2015-01-17 08:34:07 Position Statement from the Women’s Political Forces and Civil Society organizations and Groups on the Sudan Call To the People of Sudan We, the undersigned women, are fully motivated by our (...)

Norway grants US $1.9 million for humanitarian needs in Darfur 2014-12-16 06:47:08 The United Nations World Food Programme (WFP) - KHARTOUM Norway helps provide nutritious food to malnourished families in Sudan 14 December 2014 KHARTOUM – The United Nations World Food Programme (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.