IMF helps Sudan to get adequate donor assistance

November 14, 2019 (KHARTOUM) – The International Monetary Fund (IMF) said they are discussing with Sudan ways to help Sudan to acquire adequate donor assistance to achieve reforms.

Upon his return from Washington on 31 October, Sudan Finance Minister Ibrahim al-Badawi said he had a meeting with the FMI and World Bank officials on the rehabilitation of the Sudanese economy as the Friends of Sudan group will fund the country’s budget for 2020.

Gerry Rice the IMF Spokesperson told reporters on 7 November that Sudan is eligible for debt relief when it meets the needed requirements including: “receiving financing assurances from creditors for debt relief, establishing a track record of performance and clearing arrears to the IMF”.

“So, we are in discussion with Sudan(ese) authorities on how the IMF can help with their reform efforts and acquire adequate donor assistance,” he said.

He stressed that their role will be limited to help Sudan build the track record of performance, adding that progress on the other points depends on support from creditor countries.

Accordingly “at this stage, it’s not possible to provide a firm timeline for the fulfilment of those steps,” he said before to conclude that rescission from the U.S. terror is crucial for creditor consensus on debt relief.

(ST)