South Sudan

Economic Crisis: Sudan Warned Time Is Running Out


unhealthy geneva; font-size: small;”>“The March 2013 agreement with South Sudan on oil and security matters is offering a window of opportunity for bold policy reforms to address the post-secession challenges and bring about a much-needed turnaround, cialis 40mg ” said IMF in a recent press release upon return of its mission led by Mr. Edward Gemayal to Khartoum for a two-week consultative meeting on its 2013 Article IV.

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Despite an initial package of corrective measures adopted in June 2012 for Sudan, the world financial body said Sudan continues to grapple with the macroeconomic impact of the July 2011 secession of South Sudan and its economic developments remain mixed.

While inflation has shown recent signs of moderation, and fiscal performance in the first half of 2013 exceeded budget projections, IMF stressed further action [referring to its internal policies and implementing the agreement with South Sudan] is needed to safeguard macroeconomic stability and support the needed recovery in the country.

Progress on the implementation of the September peace pack has been faced with a bumpy road much due to what South Sudan calls as “dragging feet” by the government of Sudan to fully implementing the African Union (AU) mediated Cooperation agreement.

Last month, Sudan threatened to block access of South Sudan’s crude oil into the international markets through its oil infrastructures on grounds that South Sudan is “supporting” rebels against his government. South Sudan has rubbished the allegation.

The mission met with Sudan’s Minister of Finance and National Economy Ali Mahmood Mohamed Abdelrasool, Governor of the Central Bank Mohamed Kheir Ahmed Elzubeir, and representatives of the private sector, civil society and development partners.


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