Sudan’s severe economic crisis will ease after removal from US blacklist

By Al-Nur al-Zaki

Khartoum, Dec 16 (efe-epa).- The removal of Sudan from the United States blacklist for countries sponsoring terror will provide the African country a way back to the international economic community, allowing it to reduce its heavy debt.

Although Sudan hopes that the move will help save it from a years-long severe economic crisis, experts warn the benefits will not be as fast as the Sudanese government insinuate.

One of the main benefits the government has touted is access to international financial organizations, as it hopes to obtain an exoneration of its foreign debt.

“The government prepared for the elimination of sanctions and is ready to present to the international financial institutions and donors the request” to cancel over $60 billion in debt, Adam Harika adviser for economic affairs to the Sudanese Prime Minister Abdalla Hamdok told Efe.

Sudan “has already taken a big step in preparing the legal climate to meet the conditions of the world economy in terms of transparency, auditing, accounting and accountability,” he added.

With Sudan dropped from the list, Harika hopes that foreign investments flow and trade is doubled with the resumption of transactions with international banks.

He predicted that the aeronautical and railway industries, affected by the US sanctions, will be reactivated and that it “will be positively reflected in the Sudanese economy and will improve the living conditions of citizens.”

The move also “will help make the most of the advanced technology in several vital sectors that Sudan was long deprived of,” according to a statement issued by the foreign ministry shortly after the decision was announced.

The government will count on the necessary support to recover maritime transport and invest in the exploitation of its natural agricultural and mining resources, the statement ran.