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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Source: SUNA