Istanbul conference on Sudan economy postponed till March 2012 – Sudan Tribune: Plural news and views on Sudan

November 1, 2011 (KHARTOUM) – The Sudanese and Turkish governments agreed to reschedule an international conference that was due to take place next month till March 2012 to allow maximum participation by countries.

Sudan foreign minister Ali Karti made the announcement during his meeting with the Turkish ambassador to Sudan today.

According to foreign ministry spokesperson Al-Obaid Marawih, some countries asked for postponement as the original date is too difficult to honour.

The conference is meant to discuss Sudan’s economy after the oil-rich south became an independent country in July. As a result Sudan has lost its largest source of revenue, as well as hard currency.

The Norwegian ambassador to Khartoum, Jens-Petter Kjemprud, said last October that Sudan will present to the conference its plan to tackle the economic crisis resulting from the south’s secession which will focus on diversifying its economy and investment sources.

Kjemprud further said that Sudan will explain how it will go about about developing agriculture, metallurgy, infrastructure, energy, and increase production in the fields of oil, fisheries and livestock to bring in more hard currency and attract more investment.

The Norwegian diplomat however stressed that this is not a donors’ conference, adding that more than 60 countries have been invited along with United Nations agencies and international financial bodies.

Sudan is lobbying the international community for debt relief to write off close to $40 billion in loans that date back as far as the ’80’s.

Last September, Karti said that world could not simply stand back and watch the country’s economy collapse.

Sudan’s finance minister has said the country may need as much as $1.5 billion of foreign aid a year and plans to slash government spending by a quarter due to budget difficulties.

The governor of the central bank also called on Arab states to deposit around $4 billion in his institution and other Sudanese commercial banks.

(ST)

via Istanbul conference on Sudan economy postponed till March 2012 – Sudan Tribune: Plural news and views on Sudan.