⁍ Sudan, saddled by $60 billion in external debt, urgently needs financial help to reorganize its economy.
⁍ The IMF last month endorsed plans to monitor a 12-month program of economic reforms being implemented by Sudan’s new transitional government.
⁍ Sudan’s high external debt and longstanding arrears continue to limit its access to external borrowing, including from the IMF, to which it owes $1.3 billion.
– The International Monetary Fund says it is “encouraged” by President Trump’s decision to remove Sudan from the US list of state sponsors of terrorism. “We are encouraged by the US administration’s formal indication to Congress of its intention to remove Sudan from (the list),” IMF mission chief Carol Baker tells Reuters. “The removal of Sudan from the (list)eliminates one of the hurdles toward possible HIPC debt relief.” Sudan, saddled by $60 billion in external debt, urgently needs financial help to reorganize its economy. Inflation hit 167% in August and the currency has tumbled as the government prints money to subsidize bread, fuel, and electricity. The IMF last month endorsed plans to monitor a 12-month program of economic reforms being implemented by Sudan’s new transitional government as it seeks to build international confidence and move toward eventual debt relief.
Source: https://www.reuters.com/article/us-usa-sudan-imf/us-removal-of-sudan-from-sponsors-of-terrorism-list-is-step-toward-debt-relief-imf-idUSKBN2782YA