Saudi-Sudanese Move to Address Debt and Support Reconstruction
Minister of Finance Dr. Gebreil Ibrahim met with his Saudi counterpart, Minister of Finance Mohammed bin Abdullah Al-Jadaan, on the sidelines of the annual meetings of the Asian Infrastructure Investment Bank (AIIB) held in Doha, in the presence of Deputy Governor of the Central Bank of Sudan Dr. Sami Abdel-Hafiz.
The two sides discussed ways to strengthen economic and financial relations between Sudan and Saudi Arabia and advance bilateral cooperation in a manner that reflects the depth of the fraternal and strategic ties between the two countries and their peoples.
The meeting addressed a number of issues of common concern, foremost among them ways to support Sudan’s efforts to resume cooperation with international financial institutions, including efforts to revive its engagement with the Heavily Indebted Poor Countries (HIPC) Initiative with the International Monetary Fund (IMF), in a manner that contributes to creating conditions conducive to economic recovery and strengthening fiscal sustainability.
The two sides also discussed enhancing cooperation in capacity building, the exchange of expertise, and training, in support of the development of economic and financial institutions and the enhancement of the efficiency of national cadres. They also discussed expanding cooperation with the Islamic Development Bank Group and benefiting from its capabilities and programs in support of Sudan’s recovery, reconstruction, and development efforts.
The two countries stressed the importance of facilitating trade and economic and financial transactions between the two countries, creating a conducive environment for expanding trade and investment, and strengthening cooperation between the public and private sectors in a manner that deepens economic ties and opens broader prospects for partnership in productive and development sectors.
The two ministers affirmed the importance of taking economic relations between the two countries to a broader level of sustainable partnership, in a manner that supports Sudan’s efforts to restore its productive capacities, promotes investment and trade, and contributes to stability and economic growth in the region.
The Sudanese side expressed its appreciation to Saudi Arabia for its supportive positions toward Sudan, affirming its aspiration to continue this support and strengthen the economic and development partnership between the two countries in a manner that supports Sudan’s transition from responding to immediate needs to recovery, reconstruction, and sustainable development.