Sudan in dire strait calls for $5 billion in aid to prevent a collapse

by   |  VIEW 394
Sudan in dire strait calls for $5 billion in aid to prevent a collapse

On Thursday, the 7th of November, Finance Minister of Sudan, the grief-sickened North-African country bordered with Egypt in the east, Ibrahim Elbadawi, said in an interview with a press agency, that an once-flourishing economy of Sudan back in the 2000s over an increase in oil production, higher oil prices alongside a larger foreign investments, would need as much as $5 billion in budget aid in order to avoid a likely economic collapse alongside further reforms of its economy, that ran out of oil on late 2011s, shortly after ousting of its veteran ruler Omar al-Bashir, depicting an upcoming holocaust for largely resource-dependent nations likes of a majority of Gulf countries.

In point of fact, Sudan, which lost much of its oil wealth shortly after South Sudan’s succession back in the 2011s as beforementioned, had just enough in foreign currency to hang on for a few weeks to support its public finances, Sudan’s Finance Minister, Ibrahim Elbadawi, added in his Thursday’s (November 7th) interview.

On top of that, adding despite having some supports in fuel alongside wheat imports, about 65 per cent of the 44-million-people’s country had still been living below poverty lines and in grave need of $2 billion in development funding alongside a promised $2 billion from the Arab development funds, Elbadawi said on Thursday (November 7th), “We have started the process (of reforms).

The people of Sudan deserve to be seen in a radically different prism than the international community used to see Sudan, as a country ruled by a pariah state. ”