(Ecofin Agency) - The government of Sudan announced this week it is seeking $8 billion to fuel its economy. According to PM Abdalla Hamdok, the resources will be used to pay the import bill over the next two years.
He said his country will need to raise about $2 billion in foreign currency to slow the depreciation of the local currency and stabilize it. This announcement comes at a time when the former UN official, who took office as Prime Minister this week, has begun talks with the IMF and the World Bank to restructure the debt burden of Sudan and enable the country to get new financing from the two Bretton Woods institutions.
The Sudanese government has also engaged talks with the United States to be taken out of the US black list of countries supporting terrorism, which has isolated Khartoum from most of the international financial systems since the 1990s.
Moutiou Adjibi Nourou