Sudan and the Arab Monetary Fund sign a document endorsing their loans

By: Shadia Basheri   

Khartoum – Sudan and the Arab Monetary Fund signed, here yesterday, a document supporting the loans concluded between the two parties.
Minister of Finance and Economic Planning, Dr. Ibrahim Al-Badawi signed for Sudan, while the Fund’s Director General, Chairman of the Board of Directors, Dr. Abdul Rahman Al-Himaidi signed for the fund.
The document aims to continue cooperation and partnership to support and activate the loans concluded and to intensify partnership efforts and activate planning to support the economic and financial reform efforts implemented by the government during the transition period according to the priorities of the country and in accordance with the frameworks and programs of work in the fund.
The Minister of Finance described the document as important, appreciating the continuous support of the fund to Sudan and underlining the importance of financing trade through a commodity loan to meet the country’s needs of strategic imports and export financing, especially gold, revealing arrangements for the establishment of a unit to finance exports of minerals and oil at the Ministry of Finance.
For his part, Al-Himaidi said that the document will continue to enforce a commodity loan previously signed in the amount of $ 70 million and another $ 110 million that will be granted to the Government of Sudan to enforce economic reforms, revealing a trend to support exports through the fund and the Arab Trade Financing Program, confirming interest of the fund to technical support and training and to implement programs for Sudan in the context of the fund’s initiatives, including the Program for the Promotion and Development of Financial Markets and the Program for the Development and Strengthening of the Statistical Structure for its Importance in Economic Policy Making, revealing the fund’s seeking to bring together exporters and importers in Sudan in the context of trade finance.

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