Economic Vision: Friends of Sudan Gathering

Today Sudan is hosting a number of friends, gathering at Friendship Hall to discuss and review supporting Sudan economically. The move is considered as the biggest economic event since the collapse of Al Bashir regime last April.
The participants represent, the international financial bodies, such as World Bank (WB), International Monetary Fund (IMF) and African Development Bank (AfDB) alongside delegations from, Germany, France, Norway, Britain, Finland, Italy, Sweden, Saudi Arabia, Qatar, Egypt and United Arab Emirates (UAE).
Also the meeting of Sudan friends is attended by officials from United Nations, African Union and European Union. The objective behind the meeting is to support the interim government to overcome the economic challenges during the transitional period. Prime Minister Abdalla Hamdok has announced that his government requires US$ 10 billion; the question is to what extend that the friends’ response to the call of the PM?
Many hot issues concerning Sudan economy will be reviewed, the debts, arrears, and 2020 budget, beside the issue of removing Sudan from the list of terrorist countries. The interim government is required to introduce its projects professionally, according to the Minister of Finance, there are twenty projects prepared to put on the table, that include education, health, industry, trade and other development projects. The PM exerted efforts to correct the image of Sudan, but the challenges that face the outcome of the meeting are, the pressure of current economic situation, which deserve urgent response, any solutions after three or four months, may accelerate the transitional period, and lead to early elections, because people can’t bear more suffering.
The second challenge is the rapid increase of basic commodity prices, alongside the devaluation of the national currency before US dollars, if the meeting didn’t stabilize the rate exchange, it wouldn’t improve the economic situation.
Thank you friends of Sudan, we do appreciate the role you play to restore Sudan economy, but the third challenge, is the 2020 budget. The Minister of Finance based the budget on the grants and funds that expected by the friends, the fund will come as projects monitored by the donors, which means no cash will be handed to the government.
Till now the interim government didn’t reveal its 2020 budget, it is waiting for the result of meeting, so it is critical time for the Minister of Finance, the fiscal year is about to end, and nobody knows, the volume of 2020 revenue and expenditure, nobody knows the expected inflation rate, anyhow, tomorrow we decide which direction Sudan will face.

Mohamed Abdalla

Economic Vision
Email: moabd31@yahoo.com
Mohamed Abdalla
Mohamed Abdalla

Mohamed Abdalla

Economic Vision Email: moabd31@yahoo.com

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *