WB Welcomes Decision on Unifying the Exchange Rate

Khartoum, Feb.22(SUNA)- President of the World Bank , David Malpass, has welcomed decision of the Central Bank of Sudan on unifying and stabilizing the exchange rate. He tweeted that the decision has specified nine benefits for people of Sudan including minimizing smuggling and increase flows of financial transfers , assistances and investment. He pointed out that announcement of unification of the exchange rate would make progress regarding settlement of Sudan’ arrears for the World Bank and enable Sudan to provide resources and wider participation for international financial institutions towards Sudan. The WB President further added that those were main steps towards launching initiative on relief of Heavily Indebted Poor Countries(HIPC), explaining that the WB Group is working to provide huge support to people of Sudan. He noted the WB Group is working the International Monetary Fund(IMF) for finding ways of facilitating relief of debts burden for countries qualified to grant from the international financial institutions. AB/AB.