IMF urges steps to stabilise Sudan

Sudan's economic challenges are “daunting” and emergency measures are needed to stabilize the economy, the International Monetary Fund said on Tuesday.

The IMF said initial findings from a recent mission to Sudan found the economic situation in 2012 had not improved from 2011, when growth slowed to 2.7 percent, year-end inflation reached 19 percent and the fiscal deficit was about 4 percent of gross domestic product.

“The mission recommends a two-pronged reform strategy: short-term emergency measures to regain control of, and stabilize, the economy, including fiscal consolidation, and in the medium term, a comprehensive structural reform program to recalibrate the economy in line with the country's economic and financial potential,” the IMF said in a statement. - Reuters