IMF: peace stage represents real challenge to Sudanese economy

KHARTOUM. Nov 29, 2004 (SUNA) — The International Monetary Fund (IMF) stated that the era after realization of peace in the Sudan represents a real challenge for the Sudanese economy including need for large financial resources that exceed its capacity, besides the reconstruction process and the dealing with situation in Darfur.

The IMF referred in its report, which was received by the Minister of Finance, Al-Zubair Ahmed Al-Hassan, to the work being done by the Sudan with the help of the World Bank and the UN to determine the requirements for the peace era and the real size of the gap in resources, toward attracting support from the international donors.

The IMF appreciated the positive performance of the Sudanese economy during the first half of the fiscal year 2004.

The report also pointed to the progress in the customs’ reform and the efforts for the membership of Sudan at the World Trade Organization (WTO) and adoption of a clear policy on foreign loans.

The IMF said that the financial performance was better than the expected one, explaining that the budget realized a surplus of.7% of the gross domestic product (GDP), compared to the increase of %1.5 in the revenues.

The IMF said that the social development expenditure was better performance than that in the past year. The IMF expects the Sudanese economy to realize a growth amounting to 7%.