Friends of Sudan agree on financing 2020 budget and debt relief
The Sudanese Minister of Finance and and Economic Planning, Dr Ibrahim El Badawi, announced that an agreement has been reached with the Friends of Sudan about debts relief and the country's 2020 budget.
Upon his return from the USA on Thursday, the Minister told reporters at Khartoum International Airport, that his visit to Washington may be considered a major achievement for the country.
He said that international monetary institutions agreed on a roadmap for the rehabilitation of Sudan, to begin with an economic programme to stabilise the macro-economy.
The 2020 National Budget will be financed by the Friends of Sudan, El Badawi reported. He explained that the budget will be based on the UN Sustainable Development Goals, with a focus on education, health, and social services.
According to the agreement, the budget will be based on macroeconomic stabilisation, reliance on available resources, and strengthening of monetary and exchange rate policies.
In addition, Khartoum will not have to pay any of its huge debts next year, but will engage in negotiations on debt relief with the World Bank and the African Development Bank scheduled to begin March. The negotiations will be based on Sudan's sustainable development programme.
El Badawi further announced that Prime Minister Abdallah Hamdok will soon travel to the USA for meetings with Congress members, government officials, and the President of the World Bank.
He further said that the next meeting of the Friends of Sudan will be held in Khartoum in the first week of December. A donor conference is planned to take place in April next year.
Radio Dabanga reported on October 22 that Minister El Badawi attended the fourth meeting of the Friends of Sudan in Washington the day before.
He discussed with representatives from Egypt, France, Germany, the Kingdom of Saudi Arabia, Norway, Qatar, the United Arab Emirates, the United Kingdom, the African Union, the European Union, the United Nations, the African Development Bank, the International Monetary Fund, and the World Bank, how the international community could support Sudan's civilian-led transitional government's economic reform efforts.
Chairman Tibor Nagy, US Assistant Secretary for African Affairs, said in a statement after the meeting that The government of Sudan's two-track plan seeks to mobilise both domestic and international resources to demonstrate rapid improvements in social service delivery and youth unemployment, while pursuing economic reforms and building the basis for longer-term development.
Sudan's partners pledged to support proposed quick impact projects, and begin a review of potential mid to longer term reforms that the Friends of Sudan could support. They also stressed the need for strategic communication, so the Sudanese people are fully informed of what their government is working to accomplish.
On Wednesday, PM Hamdok and FA Minister Asmaa Abdallah received a high-level delegation from the EU in Khartoum. The EU delegation pledged a total of Euros 466 million in support grants to assist the government with the transition in the country.
Source: Radio Dabanga