Africa

World Bank head sees situation in Sudan improving, urges patience

FILE PHOTO - A participant stands near a logo of IMF at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS-Johannes P. Christo-File Photo

Sudan is making progress as it reconnects with the global economy but patience is needed as the country seeks to tackle shortages and attract investment, the visiting head of the World Bank said on Thursday.

Sudan’s economy has been mired in a crisis that led to the overthrow of former leader Omar al-Bashir in 2019 and has continued since.

Inflation slowed slightly last month to 388% and a sharply devalued currency has shown signs of stabilising, but many Sudanese are struggling with poverty, shortages of medicines, and power cuts.

Last week authorities said they had thwarted an attempted coup, and on Thursday civilian groups are calling for pro-democracy protests in Khartoum.

“Sudan is making a transition from a violent situation, from a situation of shortages to the situation that is gradually improving,” David Malpass said after meeting Sudanese Prime Minister Abdalla Hamdok.

“It takes time to go through this process and it will be important for people to approach it with patience and with tolerance for each other knowing that the whole that Sudan’s building – a nation – is going to be stronger than the individual parts.”

Earlier this year Sudan paved the way for extensive relief on more than $50 billion in foreign debt by enacting rapid economic reforms, unlocking access to international financing. Over the next year, the World Bank says it will commit about $2 billion in grants to help tackle poverty and inequality, and boost growth.

Malpass is the bank’s first head in decades to visit Sudan, which faced extensive sanctions under Bashir. The World Bank has also helped plan and finance a temporary basic income scheme that is being gradually rolled out in some parts of the country.

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