Sudanese cabinet approves $400m for foreign loans disbursement
November 22, 2013 (KHARTOUM) – Sudanese government on Thursday decided to dedicate around $400 million of the country’s oil revenue to repay foreign loads.
The Sudanese cabinet has approved in its weekly meeting chaired by president, Omer Al-Bashir a supplementary allocation of resources act amounting to 2.2 billion pounds ($387 million based on the rates of the central bank) to pay loans and accrued interests to foreign countries and financial institutions.
The additional financial resources represent the expected revenues of the transit fees from the transfer of South Sudan oil through Sudanese territory.
The Sudanese government is poised to receive $1.42 billion next year from Juba as part of the agreements signed between the two sides regarding exporting oil from landlocked South Sudan through pipelines extending all the way to terminals in the coastal city of Port Sudan.
The cabinet also approved a plan presented by the governance and administration sector to enhance freedom and democracy as well as employing foreign policy for serving national interest.
The council of ministers spokesperson, Omer Mohamed Salih, said in statements following the meeting that payment of loans and accrued interests would secure the flow of future loans and grants.
He added that the cabinet also approved the 2014 plan of the governance and administrative sector presented by the presidential affairs minister Bakri Hassan Saleh, saying that the plan seeks to enhance freedom and democratic values, human rights, maintaining national security, consolidation of decentralized governance, and employing foreign policy for serving the supreme national interests.
Salih also said that the cabinet adopted the 2014 plan of the cultural and social development sector presented by the minister of education, Suad Abdel-Raziq, pointing that the plan aims to develop the civil service, promote education and expand enrolment opportunities, enhance the use of technology, implement the electronic government, eradicate poverty, expand social security coverage, provide low-cost housing, deepen religious values, and empower youths.
He pointed that these plans are consistent with the National Strategic Plan and president Bashir electoral program, saying that the cabinet called for reviewing the proposed indicators in order to conform to the states’ budgets and indicators.
(ST)