Arab Monetary Fund (AMF) disburses the second tranche of the Ordinary Loan to the Republic of Sudan to support reform efforts in face of various challenges
The Arab Monetary Fund (AMF) is keen to support the efforts of its member countries to implement economic, financial and structural reforms, in face of various challenges, through a number of means, including financing the needs of the balance of payments and public budgets, and financing trade through its affiliate the Arab Trade Financing Program, in addition to its role in promoting policy dialogue and consultation on economic, financial and development issues via its various forums and activities, providing technical advice to member countries in the field of economic, fiscal and financial policies, and providing training for government officials in member countries through its Institute for Training and Capacity Building.
The AMF is keen with providing financial and technical support to its member countries during this period in particular, in light of the developments taking place due to the COVID-19, and the ensuing economic and financial repercussions in different aspects. The AMF assistance in this regard comes as a support to the reform efforts of member countries and the measures they are taking to stimulate the economy and provide liquidity in order to contain the negative effects of the virus outbreak.
In this context, the AMF disbursed on April 8, 2020, the second tranche of the Ordinary Loan, contracted with the Sudanese government on March 16, 2019. The tranche avails resources to support the country’s financial position and help the country to move forward in the implementation of economic and financial reforms, while strengthening its resilience to various challenges. Back, on December 11, 2019, the Republic of Sudan withdrew a Compensatory Loan, which provided resources to meet the urgent needs of the balance of payments. The AMF follows closely the developments of the Sudanese economy and the challenges it faces due to the current circumstances, and works through a fruitful partnership with the Sudanese government to provide the most effective way to help the country contain the different challenges.
The AMF is currently studying financing requests from a number of member countries, and is processing the requests through expeditious procedures, in order to provide support as quickly as possible, so that the borrowing member countries can meet financing needs and enhance their financial positions to face various challenges, especially in such times.