January 28, 2021 (KHARTOUM) – The Friends of Sudan group discussed on Thursday the preparations for the Paris conference to support the Transitional Government.
The Paris conference, to be held on May 17, aims to encourage public and private international investors to invest in Sudan after its removal from the list of state sponsors of terrorism.
The meeting also will discuss with the Paris Club public creditors ways for a coordinated treatment of Sudan’s debt which amounts more than 65 billion dollars.
More than 25 countries and financial institutions took part in the Berlin-hosted virtual meeting, according to a statement issued by the finance ministry on Thursday.
The meeting which was co-chaired by Minister of Cabinet Affairs, Omer Manis, and Philipp Ackermann, the German Foreign Office’s Director for the relations with the Middle East and North Africa discussed the ongoing preparations for Paris conference next May.
For her part, Finance Minister Heba Mohamed Ali briefed the meeting about the economic plans in 2021 budget and the ongoing reforms to improve the ailing economy.
“The participants affirmed their support to the Sudanese efforts to achieve economic stability and to address the structural distortions of its economy, in addition to their support for the implementation of the 2021 budget,” reads the statement.
The transitional government has implemented several reforms aiming to cancel fuel and power subsidies and devaluated the Sudanese pound.
The international donors, for their part, have been contributing to the safety net programme designed to support poor families hit by the economic reforms.
Sudan expects that the support of international financial institutions will enhance its efforts to rebuild national infrastructures, while the foreign investments would boost its economic development.