This archive report was first published on 27 August 2021.
On August 27, 2021, Sudan received more than $857 million as part of a global allocation by the International Monetary Fund to help vulnerable countries, according to the central bank in Khartoum.
The IMF had approved a $650 billion increase in cash reserves for member nations earlier this month to aid in their economic recovery from the Covid-19 pandemic.
The central bank stated that the IMF had allotted the equivalent of $857.68 million to Sudan, which is available without restrictions due to the current economic situation.
The funding will enable Sudan to implement flexible managed float policies, stabilize the exchange rate, and overall economy.
Sudan has been struggling with economic woes that deepened after the ouster of President Omar al-Bashir in April 2019, following mass protests triggered by economic hardship.
The transitional government installed in August 2019 has vowed to fix the economy, which was battered by decades of US sanctions and mismanagement under Bashir.
The coronavirus pandemic has further compounded the country's economic crisis, prompting Sudan to embark on tough reforms, including scrapping diesel and petrol subsidies and declaring a managed float of the Sudanese pound.
