Austria contributes €14.9 million to International Monetary Fund's (IMF) PRG-HIPC Trust in support of Somalia and Sudan Debt Relief

The HIPC Initiative was launched in 1996 by the IMF and World Bank, with the aim of ensuring that no poor country faces a debt burden it cannot manage

On December 16, 2022, Austria disbursed a €14.9 million grant (about US$15.8 million) for the International Monetary Fund's (IMF) Heavily Indebted Poor Countries (HIPC) Initiative. This contribution will allow the IMF to provide debt relief to Somalia and Sudan once all the conditions under HIPC have been met. The HIPC…

International Monetary Fund (IMF) Staff Completes Visit to South Sudan

A staff team from the International Monetary Fund (IMF), led by Jan Mikkelsen, visited South Sudan during March 5-15 to conduct discussions of the 2019 Article IV Consultation

South Sudan is facing a deep economic crisis following several years of conflict; The September 2018 peace agreement has increased the prospects for lasting peace and reestablishing macroeconomic stability and credibility; Full dedication to peace, economic stabilization and robust oil management will be key in rebuilding policy credibility and regaining…

IMF Staff Completes 2017 Article IV Visit to Sudan

A team from the International Monetary Fund (IMF) led by Daniel Kanda visited Khartoum from September 13–September 26 to hold discussions on the 2016 Article IV Consultation with Sudan

Economic conditions in Sudan remain challenging in the face of persistent fiscal deficits, high inflation, and economic sanctions. The economic outlook hinges on implementing bold and broad-based reforms to stabilize the economy and strengthen growth.  The expansion of social safety nets to support the most vulnerable and reforms to improve…

Commodities, Rainfall, Instability Biggest Challenges —African Ministers

Rising inflation, drops in currency due to political instability Low commodity prices adding to fiscal pressures Help from international community “paramount” Low commodity prices, climate change, and insecurity are forcing many countries to make significant fiscal adjustments, African finance ministers said during the IMF-World Bank Spring Meetings in Washington D.C.…

IMF Staff Completes 2016 Article IV Mission to Sudan

A team from the International Monetary Fund (IMF) led by Eric Mottu visited Khartoum from May 21–June 2 to hold discussions on the 2016 Article IV Consultation with Sudan. At the conclusion of the mission, Mr. Mottu issued the following statement: “Sudan has made remarkable progress toward macroeconomic stability and…