IMF Board Endorses Staff-Monitored Program for Sudan

Source: IMF Board Endorses Staff-Monitored Program for Sudan

The 12-month SMP [Staff Monitored Program] will support the government’s home-grown program of reforms aimed at stabilizing the economy, improving competitiveness, and strengthening governance.

“With the move to a transitional government, Sudan now has a window of opportunity for fundamental reforms to address major macro imbalances and lay the groundwork for inclusive growth. The transitional government has laid out a home-grown program of reforms aimed at stabilizing the economy, removing distortions, improving competitiveness, and strengthening governance. The authorities have requested an IMF Staff-Monitored Program to establish a track record on policy and reform implementation, which is a requirement for eventual debt relief visa-vis official creditors.”

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