{
  "title": "Sudan: Staff-Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Sudan",
  "publication": "IMF Staff Country Reports, October 23, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/10/23/sudan-staff-monitored-program-press-release-staff-report-and-statement-by-the-executive-49837",
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  "summary": "The transitional government has requested a Staff-Monitored Program (SMP) to help address major macro imbalances, lay the groundwork for inclusive growth, and establish a track record of sound policies that is a requirement for eventual HIPC debt relief. Major challenges lie ahead.",
  "sections": [
    {
      "heading": "Purpose of the Staff-Monitored Program (SMP)",
      "content": "- The transitional government has requested a Staff-Monitored Program (SMP) to:\n  - help address major macro imbalances,\n  - lay the groundwork for inclusive growth,\n  - establish a track record of sound policies that is a requirement for eventual HIPC debt relief."
    },
    {
      "heading": "Macroeconomic and humanitarian context",
      "content": "- Major challenges lie ahead.\n- Economic contraction since 2018 is set to intensify sharply in 2020 as a result of the COVID-19 pandemic.\n- Fiscal and external imbalances are large.\n- Inflation is high and rising.\n- The currency is overvalued, and competitiveness is weak.\n- The humanitarian situation is dire with large numbers of internally displaced people and refugees."
    },
    {
      "heading": "Constraints on access to Fund financial assistance",
      "content": "- Sudan cannot access Fund financial assistance on account of:\n  - (i) arrears to the Fund,\n  - (ii) arrears to other IFIs and other creditors,\n  - (iii) unsustainably large external debt.\n- Sudan remains on the U.S. state sponsors of terrorism list (SSTL), which effectively hinders progress toward HIPC debt relief."
    },
    {
      "heading": "Policy alignment, social tolerance, and donor support",
      "content": "- There is broad agreement between the authorities and staff about the key reform priorities.\n- Public tolerance for painful reforms is fragile given prolonged economic hardship.\n- Donor financial assistance has been well short of the amounts needed to facilitate gradual orderly adjustment."
    },
    {
      "heading": "Risk assessment",
      "content": "- Given the economic, fiscal, external, humanitarian, financing, and political constraints, risks to the SMP are high.\n\nSource: Sudan: Staff-Monitored Program-Press Release; Staff Report; and Statement by the Executive Director for Sudan, October 23, 2020.\n\n---\n\n Content in this bundle\n\n- 1sdnea2020003\n  - 1sdnea2020003 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1sdnea2020003 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: October 23, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513559803.002",
    "The transitional government has requested a Staff-Monitored Program (SMP) to:",
    "Major challenges lie ahead.",
    "Economic contraction since 2018 is set to intensify sharply in 2020 as a result of the COVID-19 pandemic.",
    "Fiscal and external imbalances are large.",
    "Inflation is high and rising.",
    "The currency is overvalued, and competitiveness is weak.",
    "The humanitarian situation is dire with large numbers of internally displaced people and refugees.",
    "Sudan cannot access Fund financial assistance on account of:",
    "Sudan remains on the U.S. state sponsors of terrorism list (SSTL), which effectively hinders progress toward HIPC debt relief.",
    "There is broad agreement between the authorities and staff about the key reform priorities.",
    "Public tolerance for painful reforms is fragile given prolonged economic hardship.",
    "Donor financial assistance has been well short of the amounts needed to facilitate gradual orderly adjustment.",
    "Given the economic, fiscal, external, humanitarian, financing, and political constraints, risks to the SMP are high.",
    "**1sdnea2020003**"
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