Arab Monetary Fund lends Sudan $166m

The Arab Monetary Fund said on Tuesday that it has agreed to lend the Republic of Sudan $166 million. The institution added in a statement that the loan will contribute to the financing of the balance of payments deficit and support the economic reform programme covering the years 2016 and 2017.

Sudan’s economic reform programme aims to promote financial and economic stability, and create a macro-economic environment for achieving comprehensive and sustainable economic growth rates.

According to the statement, the programme includes a set of policies and procedures to strengthen the financial position of the government, develop its monetary policy and improve efficiency. It should also enhance the country’s external position and establish the necessary infrastructure to accelerate development.

This latest loan brings to 14 the number given to Sudan by the fund, for sums totalling $400 million.