CAIRO (Pakistan Point News / Sputnik - 01st November, 2019) Sudan has agreed upon a road map of reforms for developing the country's economy and easing its debt burden with the International Monetary Fund (IMF), Sudanese Finance Minister Ibrahim Badawi said.
"A road map for reloading Sudan's economy, improving the economic situation and holding structural reforms has been agreed upon," Badawi said on Thursday, as quoted by the Egyptian MENA news agency.
The minister explained that the plan did not require Hartoum to immediately pay its debt, which exceeded $50 billion.
According to Badawi, in 2020, Sudan will for the first time in years pass a budget aimed at developing the economy, supporting education and healthcare, strengthening social security, increasing Currency reserves and improving the national currency rate.
"Significant funds will be disbursed by Arab foundations in case issues involving payment delays are settled," Badawi argued.
Sudan's economy has faced instability for months. The crisis further worsened as long-time leader Omar Bashir was toppled last April. In August, a transitional government has been formed by the military and the civilian-led opposition.
The government, led by Prime Minister Abdalla Hamdok, has been seeking, among other things, to remove Sudan from the United States' list of state sponsors of terrorism, in which the African country was included under Bashir's administration back in 1993. The inclusion in the list has restricted foreign investment and made Sudan ineligible for debt relief.
