Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

IMF - International Monetary Fund : Press Release: Sudan—Meeting of the Technical Working Group on External Debt

10/12/2013 | 02:31pm EST
Press Release No. 13/404
October 12, 2013

On October 9th, the IMF and World Bank staff co-chaired the 7th meeting of the Technical Working Group (TWG) on Sudan's external debt on the sidelines of the 2013 IMF-World Bank Group Annual Meetings. Delegations from the Governments of Sudan and South Sudan and President Mbeki, Chair of the African Union High Level Implementation Panel (AUHIP), President Mbeki, attended, in addition to the official bilateral and multilateral creditors.

Participants to the TWG were encouraged by the recent progress in implementing the provisions of the 2012 Bilateral Cooperation Agreement. They welcomed progress made by Sudan, including the recent implementation of difficult reform measures that could form the basis of a successor SMP, and the adoption of an I-PRSP. They also called on Sudan to maintain the reform momentum, continue the technical work, including the establishment of a track record of policy reforms with the IMF and stepped up outreach efforts towards creditors. They also underscored the importance of handling the "zero option" in a flexible way.

TWG participants welcomed the creation of the Tripartite Committee (Sudan/South Sudan/African Union) as a platform to strengthen relations between the two countries and coordinate outreach efforts towards creditors. In this context, President Mbeki emphasized "the importance of the platform to ensure an environment that is conducive to peaceful relations between these two countries and move forward the debt relief process."

In its concluding remarks, Ms. Bella Bird, World Bank Country Director for Sudan and South Sudan noted that "providing the necessary debt relief to reduce Sudan's external debt burden to a sustainable level is critical to supporting economic development in both Sudan and South Sudan". Noting that significant progress was made in the technical area in support of debt relief, she called on both governments to intensify their outreach to Sudan's creditors.

For his part, Mr. Edward Gemayel, the IMF's Mission Chief for Sudan noted that "Sudan has a long track record of implementing sustainable economic policies", and added "that a successor SMP supporting an appropriate policy framework would help Sudan establish a sound track record of performance in the period through the Decision Point that would one crucial element in gaining creditors support for the debt relief process."

distributed by

© Publicnow 2013
Latest news "Economy & Forex"
05:53pBlinken Addresses U.S. Rivalry With China, Russia in Senate Hearing -- 2nd Update
DJ
05:45pYellen backs more 'big' stimulus; Netflix soars
RE
05:44pForeign holdings of U.S. Treasuries slide for 4th month in November -data
RE
05:39pUK unveils aid for fishing industry, reeling from post-Brexit checks
RE
05:39pYellen Tells Lawmakers That American Workers Would Be Her Core Focus -- 4th Update
DJ
05:34pPresident-elect joe biden's administration considering creating a white house antitrust czar focused on competition -sources
RE
05:30pPCA PROPERTY COUNCIL OF AUSTRALIA : HomeBuilder the workhorse of economic recovery
PU
05:30pUK's Boris Johnson aiming for close ties with Biden
RE
05:27pUtilities Down On Cyclical Bias -- Utilities Roundup
DJ
05:26pCommunications Services Climb As Netflix Kicks Off Earnings Season - Communications Services Roundup
DJ
Latest news "Economy & Forex"