Economists: Malpass’ Visit Gives Positive Indicators for Sudan Economy
Khartoum, Oct.3(SUNA)- Economic experts said that the visit of the World Bank President, David Malpass, and delivering his speech to the United Nations General Assembly from Sudan , gives positive signals to the international community that Sudan is taking serious steps in economic reform processes and adopting economic reform policies that helped in improvement of the Sudan’s economic record.
The economist, Dr. Ala Allah Abdel Razeq, called on government institutions and the banking and financial sector institutions to expedite the necessary reforms to restore confidence in these institutions , and to create an attractive investment environment.
He called on the government of the transitional period to prepare well for projects, properly direct the two billion dollars pledged by the World Bank to real production sectors and infrastructural projects along with providing incentives to attract the fleeing national capital as well as creating a business environment.
Dr Abdel-Razeq stressed the need to continue in creating investment conducive climate through adoption of rational macroeconomic policies (financial, monetary and others), as well as good micro economic measures to address the economic crisis, and unanimity over a clear-oriented economic vision in order to improve macroeconomic indicators and avoid using patchwork measures for addressing economic and social imbalances.
He reaffirmed the importance of adopting economic and political rationality at the internal level, especially that the international community is preoccupied with its crises, most notably the effects and repercussions of the Coronavirus pandemic and its impacts on its overall economic trends.
Dr. Mohamed Awad al-Karim,Head of the Accounting Department at the Faculty of Economics in Gezira University enumerated the benefits that Sudan would reap from visit of the President of the World Bank Group, David Malpass, to Sudan.
In a statement to SUNA, Awad al-Karim expected that this visit would be a beginning for flow of more grants to the country, which would reflect positively on the stability of the market, stressing that the visiting delegation included high-ranking members who came after an absence of five decades, noting that one of the first implications of this visit is Restoring confidence in the Sudanese economy, stressing that the country will benefit from such meetings, provided that they are exploited optimally.
He called for using the grants for training and all areas of cooperation between the country and the World Bank, and that all aspects of this cooperation to be reflected on the citizen’s life, price stability and increase of production, especially in the Gezira Scheme.
Dr Abdel-Razeq pointed out that the visit came within political and economic conditions during which Sudan was able to achieve successes, in continuation of previous efforts in which the transitional government was engaged in bilateral talks with the international community, specifically the institutions of the International Monetary Fund and the World Bank in order to support the civil and democratic transition in Sudan.
Multilateral Investment Guarantee Agency, International Development Association , , International Finance Corporation
It is worth mentioning that the World Bank Group and its affiliated institutions, namely the International Development Association , the International Finance Corporation, and the Multilateral Investment Guarantee Agency are the main arms and sources for financing infrastructural projects and other projects in Sudan since the end of the fifties until the end of the eighties of the century. The volume of the soft loans it provided to Sudan during the period was estimated to be more than two billion US dollars and these loans and financial facilities have contributed to financing more than seventy projects in various economic and social sectors.
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