Sudan was unable to access $650 million in international funding in November when assistance was paused after a coup, the finance minister of the dissolved government said - a freeze that puts in doubt basic import payments and the fate of economic reforms.
The financing included $500 million in budget support from the World Bank and $150 million in special drawing rights from the International Monetary Fund, said Jibril Ibrahim, who was appointed to a civilian transitional government in February.
"Sudan had tremendous international support. Now donors will be much more cautious," said one former official from the dissolved government. Before the coup the inflation rate, one of the highest in the world, had begun to fall, and the exchange rate had stabilized following a sharp devaluation in February.
"Basically we depend on tax, customs and gold revenues and on different companies working in various fields," Ibrahim said in an interview at the Finance Ministry in Khartoum. For imported basic goods, such as flour, fuel and medicine, "we cannot cover it completely, but the majority of the strategic commodities we can cover with our exports," he said.
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