Sudanese government has signed deals for loans worth $300 million with regional Arab funds last weekend. The loans would help authorities in Khartoum to cope with the country’s economic crisis and nearly three months of street protests. According to the finance ministry, a $230 million loan deal was signed with the Abu Dhabi-based Arab Monetary Fund to support the balance of payments. A deal for a second loan worth $70 million was signed with the Arab Trade Financing Program, whose shareholders include the Arab Monetary Fund and which is also based in Abu Dhabi. A nation of 40 million people, Sudan has struggled to recover from the loss of three quarters of its oil output, since South Sudan seceded in 2011.

Source: The North Africa Journal March 18, 2019 14:26 UTC