Publication: Sudan Debt Management Performance Assessment
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Date
2012-05
ISSN
Published
2012-05
Author(s)
World Bank
Abstract
The Republic of Sudan is the third
largest country in Africa, following the July 2011 secession
of South Sudan, with an area of 1.8 million square
kilometers and a population of 33.4 million, half of which
live in urban areas. It is strategically located between
Sub-Saharan Africa and the Middle East, with direct borders
with Central African Republic, Chad, Egypt, Eritrea,
Ethiopia, Libya, and South Sudan. Sudan is a federal
republic, and the vertical structure of government consists
of three tiers. The central government is embodied in the
office of the President, the Council of Ministers, and the
National Assembly and the two main tiers at the sub-national
levels are the state tier (with 17 states) and the locality
tier. The implications of the country's current
political and economic transition on debt management are
fundamental. The permanent fiscal shock from lower oil
revenues has put heavy pressure on the budget, with fewer
resources available for debt repayment and with increased
needs for borrowing for deficit financing, including
monetization. External resources are limited given the
arrears Sudan has with many creditors and associated lack of
access to concessional financing, plus traditional global
markets are stressed from fiscal problems in many countries.
The government has already been very active in domestic
markets, and the availability of additional resources from
the private sector is a concern. The DeMPA focuses on
central government debt management activities and
closely-related functions, such as the issuance of loan
guarantees, on-lending, cash flow forecasting, and cash
balance management. Thus, the DeMPA does not assess the
ability to manage the wider public debt portfolio, including
implicit contingent liabilities (such as liabilities of the
pension system) or the debt of state-owned enterprises
(SOEs), if these are not guaranteed by the central government.
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Citation
“World Bank. 2012. Sudan Debt Management Performance Assessment. © World Bank, Washington, DC. http://hdl.handle.net/10986/33978 License: CC BY 3.0 IGO.”