Sudan: Second Review Under the Staff-Monitored Program and Request for Extension-Staff Report; and Statement by the Executive Director for Sudan
IMF Staff Country Reports, June 30, 2021
Source details
- Canonical URL
- Sudan: Second Review Under the Staff-Monitored Program and Request for Extension-Staff Report; and Statement by the Executive Director for Sudan
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Bibliographic details
- Published: June 30, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513586823.002
Overview and Objectives of the Staff-Monitored Program (SMP)
- The transitional government embarked on a Staff-Monitored Program (SMP) in 2020.
- SMP objectives:
- Help address major macroeconomic imbalances caused by decades of mismanagement.
- Lay the groundwork for inclusive growth.
- Establish a track record of sound policies required for eventual HIPC debt relief.
Economic Context and Developments
- The economic challenges facing the authorities remain significant and have been exacerbated by the COVID-19 pandemic.
- Improvements noted:
- Improvements in both the domestic and external environment.
- Sudan has cleared its arrears to the World Bank and African Development Bank, thereby regaining access to multilateral grant funding.
- A financing package for the clearance of arrears to the IMF has been identified.
- A development partner conference was held in Paris on May 17, 2021, with a side event to promote investment in Sudan.
Subject Areas and Keywords
- Subject: Commercial banks, Currencies, Exchange rates, Financial institutions, Foreign exchange, International organization, Market exchange rates, Monetary base, Monetary policy, Money
- Keywords: Commercial banks, Currencies, development partner conference, Exchange rates, financing pledge, forward-looking policy commitment, Global, government securities market, HIPC decision point, IMF's transparency policy, Market exchange rates, Monetary base, Policy discussion
Content in this bundle
- Executive Summary