SUDAN NEWS ALERT: Multiple sources - New Sudan PM Hamdok sets out plans to rebuild Sudan's economy

24/8/19: Multiple sources - New Sudan PM Hamdok sets out plans to rebuild Sudan’s economy

• Reuters, by Khalid Abdelaziz

• Bloomberg, by Nadeem Hamid

 Sudan’s Prime Minister Abdalla Hamdok said Sudan requires $8 billion in foreign aid for the next two years to cover its import bills and regain trust in its currency, with $2billion in foreign deposits needed to stop its pound from falling further.

 Hamdok told Reuters:  “there won’t be a forced prescription from the IMF or the World Bank,” and confirmed that Sudan started negotiations seeking to have the US remove Sudan from its terrorism-sponsor list.

 Hamdok insisted that “the people” will make the decision on the controversial topic of government subsidies for bread, fuel, electricity and medicine.

 To make Sudan’s economy productive, Hamdok said: “we want to…stop exporting products such as livestock and agriculture as raw materials…we will aim to process so as to create added value.”

 Hamdok also said: “stopping war, which represents 70% of the expenditure…will create a surplus that can be invested in production, agriculture and livestock.”