Economic Briefing: International Support For Sudanese Economy, as Elbadawi Sets Out Priorities

International Support For Sudanese Economy, as Elbadawi Sets Out Priorities.

Overview

Finance Minister Ibrahim Elbadawi has set out the priorities of his economic reform plan, as Sudan’s international friends have agreed to finance the Sudanese budget. The EU has issued a grant for Sudan, with the IMF and World Bank agreeing a plan to support Sudan

Elbadawi’s reform plans

Sudanese finance minister Ibrahim Elbadawi said that it is the government’s priority to prioritise youth needs and aspirations, adding that Sudan wants to invest in education to create a more tech-savvy economy. (24 October, AFP).

He is also seeking international support for Sudan to have an electronic cash transfer system for the vulnerable.

International support for Sudan

Elbadawi said that Sudan Sudan has agreed a roadmap to “rehabilitate” the country with the World Bank, International Monetary Fund and African Development Bank. Without giving further details, Elbadawi said that the plan will involve structural reforms (1 November, Multiple Sources).

Elbadawi also confirmed that Sudan’s debt relief programme will start by the end of 2020, and that it will be financed by the “friends of Sudan.”

Radio Dabanga (1 November, Radio Dabanga) shed more light on how the Friends of Sudan will finance the 2020 budget, with Elbadawi saying that the budget will be based on UN Sustainable Development Goals and macroeconomic stabilisation. The focus will be on education, health and social services. Furthermore, Sudan is not obliged to pay its debts next year, with debt relief negotiations with the African Development Bank and World Bank scheduled for March.

Furthermore, an EU delegation has pledged €466 million in support grants to Sudan’s democratic transition. (31 October, Multiple sources). An initial €200 million will be granted, followed by a further €141 million, and af €125 million in humanitarian aid.

Robert van den Dool, EU Ambassador to Khartoum called for a “clear” vision, deep understanding and regional and international coordination to help Sudan technically, financially and politically “at this delicate stage.”