UP

Sudan needs up to $5 billion in budget

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto
Sudan needs up to $5 billion in budget

Sudan needs up to $5 billion in budget support to avert economic collapse and launch reforms after the ouster of veteran ruler Omar al-Bashir, its finance minister told.

Axar.az reports citing Reuters.

The country, in crisis since losing most of its oil wealth with South Sudan’s secession in 2011, has only enough foreign currency reserves to fund imports for a few weeks, said Ibrahim Elbadawi, part of a transitional government formed in August.

Sudan has had some support for fuel and wheat imports but about 65 percent of its 44 million people live in poverty and it needs up to $2 billion in development funding along with a hoped-for $2 billion from Arab development funds, he said.

Outlining reform plans in detail for the first time, Elbadawi said public salaries would need to be increased and a social support network established to prepare for the painful removal of fuel and food subsidies.

Months of demonstrations over price hikes for fuel and bread and cash shortages triggered the uprising against Bashir, who was toppled in April by the military. Protests have continued since, with people killed in clashes with security forces.

“We have started the process (of reforms),” Elbadawi said in an interview on Thursday. “The people of Sudan deserve to be seen in a radically different prism than the international community used to see Sudan, as a country ruled by a pariah state.”

“Now we have a revolution,” he said. Asked how much budget support was needed for 2020 he said: “Some estimates say between three to four billion (US dollars), maybe even five billion.”

Date
2019.11.12 / 10:41
Author
Axar.az
See also

Bulgaria adopts the euro as its official currency

SOFAZ invests $900M in Gulf countries

Oil prices rise again on global markets

Oil prices fall again on global markets

Oil prices fall again on global markets

Azerbaijan’s strategic currency reserves reach $83.6 billion

Oil prices continue to rise on global markets

Turkiye sets 2026 minimum wage at 28,075 Liras

Oil prices continue to rise globally

New gas routes boost regional supply Ukraine

Latest
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla