Sudan

The Realities of Sudan’s Economy Make Nonsense of IMF Assessments

Eric Reeves | October 25, 2018
 
http://sudanreeves.org/2018/10/25/the-realities-of-sudans-economy-make-nonsense-of-imf-assessments/

The international view of Sudan’s economy has for far too long been guided by the absurdly inadequate assessments of the International Monetary Fund (IMF). The most egregious example is that of Edward Gemayel, IMF’s Mission Chief for Sudan. An IMF press release of October 12, 2013 – two years after the secession of South Sudan – reports that, “Edward Gemayel, IMF Mission Chief for Sudan, noted that ‘Sudan has a long track record of implementing sustainable economic policies.’” Realities are quite otherwise.

Contrary to assessments by the IMF, Sudan’s economy is collapsing and the poorest Sudanese are those who suffer the most: from a lack of food, medical care, clean water, and educational opportunities. Responsibility lies clearly and unambiguously with the grossly self-enriching and destructive economic policies of the National Islamic Front, National Congress Party regime over the past 30 years. Corruption is endemic and deeply corrosive. Lack of planning and efficient use of national resources has led to wild inflation that threatens to become hyper-inflation. An almost complete lack of Foreign Exchange Currency (Forex) makes impossible the importing of adequate quantities of food (especially wheat for bread), refined petroleum products (e.g., cooking fuel, diesel fuel), and critical medicines.

The regime has no plan to lift Sudan out of this crisis — only plans to make their escape to the riches they have deposited overseas, mainly in rich Arab countries.

The grotesque assessment offered by the IMF’s Gemayel is tacitly accepted by an international community that, for various reasons, refuses to confront the Khartoum regime over its enormously destructive and finally immoral economic policies. The acceptance is yet another disgrace in the world’s response to a tyranny that has cost millions of Sudanese lives during its ghastly tenure.

 

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