Sudan Discusses Debt Crisis in IMF and World Bank Meetings

SMC-

On Tuesday morning the first large delegation headed by the Sudanese Minister of Finance has traveled to the United States, to attend the annual meetings of the International Banks and the International Monetary Fund (IMF), which is being held in Washington.

There, Sudan will give a statement to international financial institutions and donors. This is the first visit by a Sudanese delegation to the meetings following the announcement of the lifting of US economic sanctions.


Sudan’s Minister of Finance, Mohammed Othman al-Rikabi reportedly said, “The meetings are important for Sudan because it takes place immediately after the lifting of economic sanctions.”

Sudan’s agenda for the meetings includes meetings with regional directors of the institutions in which Sudan is located, to discuss the future of Sudan’s relations and prospects for development with the countries of the world after the lifting of the sanctions, according to the minister.


The Sudan delegation will discuss on the sidelines of meetings with officials of the IMF and World Bank, the Sudan’s supporting countries and the creditor countries, the issue of addressing Sudan’s external debt, which started at 17 billion dollars and now exceeds 47 million dollars.


The minister pointed out that the Sudanese delegation, which includes senior officials from the Central Bank, the ministries of planning, the economic sector and businessmen, experts and legal experts, will discuss with the member states of the IMF and the World Bank, the future of bilateral and regional relations, joint cooperation and development in light of the new Sudan after lifting sanctions.


The Minister of Finance will meet with his counterparts to remind them of their role in debt relief, providing assistance, technical support, capacity building and financing for development in Sudan.

According to the minister, the member states will be invited to invest in Sudan, and to normalize relations with them to achieve mutual benefits, and call them to increased foreign investment and to benefit from the lifting of sanctions and Sudan’s openness to the world, which will ease the bank transfers after the resolution on Thursday.


A familiar source from the Ministry of Finance told Asharq Al-Awsat that the Sudanese delegation will hold meetings on the sidelines of meetings with finance ministers from the European Union and Arab countries to present the new Sudan after the lifting of the sanctions, with regard to investment climate and promising opportunities and financial security.

The delegation also carries a matrix of projects, programs and plans on Sudan’s program in its first year of attracting foreign investments, obtaining aid and grants and relief its debts.


On the other hand, in the framework of movement of the Sudanese economic sectors in all legislative and procedural fields, the Sudanese Minister of Trade Hatem Al-Sarr said Sudan is ready to provide all commercial facilities to exporters and importers. And the necessary arrangements have been made and priorities taken into account the new phase, which Sudan will reach through world, markets, without conditions or restrictions, through free trade with America and the European Union.

Moreover, the first day of trading in the Khartoum Stock Exchange after the announcement of the intention to lift the sanctions witnessed a noticeable increase in the prices of shares of Sudanese companies listed in the Arab markets