Home | News    Friday 1 November 2019

Friends of Sudan will finance Sudan’s 2020 Budget: minister

separation
increase
decrease
separation
separation

October 31, 2019 (KHARTOUM) - Sudan’s Finance Minister Ibrahim al-Badawi announced an agreement reached with the Friends of Sudan to finance its 2020 budget through 20 projects they approved.

JPEG - 39.6 kb
Ibrahim al-Badawi speaks at press conference in Khartoum on 31 October 2019 (ST photo)

On 21 October, Friends of Sudan group met in Washington to discuss ways to support the transitional government which has inherited a ruined economy and war-ravaged country.

In a press conference held on Thursday, al-Badawi told reporters that the Washington meeting adopted a programme to rehabilitate macroeconomic sanity and the banking system in Sudan. Also, the plan aims at preparing economic transition in Sudan.

In line with this programme, Sudan will not pay any arrears or repay debts but will engage in negotiations on the debt relief with the World Bank and the African Development Bank starting from next March 2020, he said.

"The 2020 budget will be financed by the Friends of Sudan," he further said, stressing that it would be based on the Sustainable Development Goals, with special focus on education, health and social services".

In addition, the budget will be based on macroeconomic stabilization, reliance on available resources and strengthening of monetary and exchange rate policy as a prerequisite for competition, especially for national exports, he said.

The Friends of Sudan will meet next December in Khartoum to discuss and coordinate plans to support his country. While a Sudan’s donor conference which would be held outside Sudan is scheduled for April 2020.

The issue of debt, which is now between $50-60bn, has been a thorn in the side of Sudan policymakers for decades but the burden has since grown to alarming levels as a percentage of the country’s GDP.

(ST)

Related article:

Hamdok to travel to Washington to discuss Sudan’s removal from terror list

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.

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


Implications of al-Bashir’s regime dismantling 2019-12-12 21:08:55 By Alhadi A. Khalifa The enactment of the law of dismantling the regime of Omar Albashir on 28 November 2019 represents a turning point in the march of the Sudanese revolution given its (...)

Security Arrangements in Sudan: Achilles heels of peace and democratic transformation 2019-12-10 05:47:59 By Elwathig Kameir This article is intended to act as an eye-opener for all the Sudanese political forces. It aims to shed light on the huge challenges that will be faced by the December (...)

Egypt final push to secure zero-sum water-share agreement 2019-12-09 14:11:32 By Ermias Hailu After Egypt’s failure to integrate Eritrea to its territories by the end of the second world war, due to Emperor Haile Selassie’s superior diplomatic skills, the then Egyptian Pan- (...)


MORE






Latest Press Releases


S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)

Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)


MORE

Copyright © 2003-2019 SudanTribune - All rights reserved.