Sudan Requests IMF Monitoring
Sudan
has requested an 18-month IMF monitoring program
starting this month, as its economy is hit by a
sharp decline in oil revenues and foreign direct
investment.
In a
letter of intent to the International Monetary Fund,
Sudan's finance minister,
Awad Ahmed al-Jaz, and central bank Governor
Sabir Mohamed Hassan said policies and measures
henceforth would focus on sustained economic growth
and rebuilding foreign
exchange reserves.
Sudan, a modest oil producer, recorded growth of 8
to 9 percent last year buoyed by
record oil prices.
Sudan has not been immune from the decline in
global oil prices
and tight credit conditions that have affected
foreign investment.
Reuters/Saint/Yinka