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International Monetary Fund (IMF) demands Sudan devalue currency by 35% to qualify for loan

Sudanese Prime Minister Dr. Abdalla Hamdok (File/Supplied/Nyamilepedia)

August 26th 2019 (Nyamilepedia) – The International Monetary Fund (IMF) has demanded that Sudan devalue its troubled currency by 35% in order to qualify for loan, a Sudanese official has said.

Sudan’s Prime Minister Dr. Abdalla Hamdok said last week in an interview with Reuters that his government would need around $10 billion in aid to rebuild the country’s fragile economy.

Hamdok said in the exclusive interview that he started talks with the International Monetary Fund (IMF) and the World Bank on the search for help.

The former United Nations official also said his team was in talks with the United States on lifting of the Sudan from the list of State Sponsors of Terrorism to which Sudan was added to in August 1993.

Speaking to Nyamilepedia on Monday, a senior aide to Sudan’s newly appointed Prime Minister said a team delegated to talk with the IMF had been informed by the decision that Sudan would need to devalue its currency by 35% to qualify for loan.

“The team was talk that Sudan must devalue its currency by 35%,” the official told the Nyamilepedia from Khartoum on condition of anonymity.

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