Financial Times FT.com

Lower oil income puts pressure on Sudan

By William Wallis in London and Barney Jopson in Asmara

Published: July 23 2009 22:32 | Last updated: July 23 2009 22:32

Declining oil revenues and dwindling foreign reserves have put the Sudanese government under intense fiscal pressure, according to a new report by the International Monetary Fund, which says Khartoum has requested IMF assistance in rescheduling its $34bn external debt.

Sudan’s economic growth will slow to 4 per cent this year because of lower revenue from oil exports, while foreign reserves have plummeted from $2bn (€1.4bn, £1.2bn) last year to about $300m in March – covering less than two weeks’ imports, the report says.

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