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Sudan: Staff Report for the 2014 Article IV Consultation and Second Review under the Staff Monitored Program—Informational Annex

Author(s):
International Monetary Fund. Middle East and Central Asia Dept.
Published Date:
December 2014
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Relations with the Fund

(As of October 31, 2014)

Membership Status

Joined 09/05/1957; Article VIII.

General Resources Account

SDR MillionPercent Quota
Quota169.70100.00
Fund holdings of currency (Exchange Rate)341.80201.42
Reserve Tranche Position0.010.01

SDR Department

SDR MillionPercent Quota
Net cumulative
allocation177.99100.00
Holdings125.2470.36

Outstanding Purchases and Loans

SDR MillionPercent Quota
Stand-by
Arrangements111.2865.58
Trust Fund59.2334.90
Extended
Arrangements60.8135.84

Latest Financial Arrangements

In millions of SDR, (mm/dd/yyyy)

TypeDate of ArrangementExpiration DateAmount ApprovedAmount Drawn
Stand-By06/25/198406/24/198590.0020.00

Projected Payments to Fund

(SDR million; based on existing use of resources and present holdings of SDRs)

OverdueForthcoming
31-Aug-1320142015201620172018
Principal231.32
Charges/interest746.370.622.132.132.132.13
Total977.690.622.132.132.132.13

Exchange Rate Arrangement

The legal tender is the Sudanese guinea, which replaced the Sudanese dinar in proportion SDG 1=SDD 100 in mid-2007. Sudan has a de jure managed floating and a de facto other managed exchange rate regime. It has two official exchange rates. First, there is the “indicative” rate set by the central bank. Second, there is an “official” rate set by the central bank within ± 4 percent of the indicative exchange rate and applied to government transactions. The difference between the “official” and the “indicative” rates is now less than 2 percent. Commercial banks and foreign exchange bureaus are required to set their rates ± 4 percent of the indicative exchange rate. In practice, commercial banks trade at the upper part of that band.

Sudan maintains the following measures subject to Fund jurisdiction under Article VIII, Sections 2 and 3: 1) An exchange restriction arising from the government’s limitations on the availability of foreign exchange and the allocation of foreign exchange to certain priority items; 2) A multiple currency practice and exchange restriction arising from the establishment of an official exchange rate (the CBOS rate) for use in all government exchange transactions which in practice differs by more than 2 percent from the rate used by commercial banks; 3) A multiple currency practice and exchange restriction arising from large spreads between the CBOS rate and the parallel market exchange rate due to the CBOS’ limitation on the availability of foreign exchange which channels current international transactions to the parallel market; 4) An exchange restriction and a multiple currency practice arising from the imposition by the government of a cash margin requirement for most imports.

Sudan is on a 12-month consultation cycle. The last Article IV consultation discussion was concluded by the Executive Board on September 20, 2013.

FSAP Participation

The FSAP work took place during October 9–14, 2004 and was completed during December 1–14, 2004. The Financial System Stability Assessment report was discussed by the Executive Board on April 29, 2005.

Resident Representative

The Fund’s resident representative office in Khartoum was opened in October 2005, as a shared post with Djibouti. It was converted to a full post in September 2006.

Technical Assistance

In January 1995, the Executive Board decided to resume Fund technical assistance to Sudan. The following table contains a summary of the technical assistance provided since 2004. This assistance has been provided both from headquarters and from the IMF’s Middle East Technical Assistance Center (METAC).

Sudan: Technical Assistance from the Fund, 2005–14
SubjectType of MissionTimingCounterpart
Fiscal Affairs Department
Revenue administration assessment (including METAC)Short-termFebruary and October 2005, May and August 2006, January 2007Ministry of Finance (MOF)
Expenditure control and managementShort-termApril 2006MOF
Restructuring of headquarters (METAC)Short-termNovember 2007MOF
Installation of STX (METAC)Short-termMarch 2008MOF
Tax and customs administrationShort-termAugust 2006, January 2014MOF
Cash management and budget classification (GFS) (including METAC)Short-termFebruary 2004, May and September 2004, June and October 2005, April and October 2006, April, September and November 2007, November 2013MOF
Public Finance Management DiagnosticShort-termOctober 2006, June 2007MOF
Implementing a TSA and improving cash management (including METAC)Short-termJune and July 2008MOF
Self Assessment and Audit (METAC)Short-termMarch 2008MOF
Reorganization of the MOF and Public Finance Management ReformsShort-termJanuary and February 2009MOF
Strengthening Tax and Customs AdministrationShort-termJanuary 2009MOF
Petroleum fiscal regimeShort-termOctober 2010MOF
Budget management reformShort-termFebruary 2010, June 2012MOF
Tax payer compliance managementShort-termAugust 2011MOF
Fuel subsidy reformShort-termApril 2012, March 2014MOF
Tax reform strategyShort-termApril 2013MOF
Budget classification and chart of account (METAC)Short-termApril and December 2013MOF
Monetary and Capital Markets Department
Introduction of new national currencyShort-termFebruary and April 2005, January 2006, February and April 2007Central Bank of Sudan (CBOS)
Monetary management and banking supervisionShort-termMarch and April 2006CBOS
Islamic compliant monetary instrumentsShort-termAugust 2006, May 2007CBOS
Monetary policy operationsShort-termSeptember 2004, June 2006CBOS
Banking supervisionShort-termAugust 2005, August, September and December 2006, November 2012, July 2013CBOS
Central bank organizationResident AdvisorSeptember 2005, Feb. 2006-August 2007CBOS
Microfinance supervision and regulationShort-termDecember 2005CBOS
Liquidity management and forecastShort-termMarch 2006, November 2007 and May 2012CBOS
Payment systemsShort-termNovember 2007CBOS
Bank regulationShort-termMarch and April 2006, May 2007CBOS
Banking operationsShort-termApril and July 2006, 2013CBOS
Banking supervisionShort-termAugust, September and December 2006CBOS
Implementation of Islamic financial services board standardsShort-termApril 2008CBOS
Currency handling and reformShort-termNovember 2006CBOS
Interbank market developmentLong-termJune 2012CBOS
Credit Bureau/registry/scoringShort-termSeptember and December 2012, June 2013CBOS
Statistics Department
National accounts, CPI and PPI statisticsShort-termApril 2007, August 2014Central Bureau of Statistics (CBS)
Real sector statistics and CPI statistics (METAC)Short-termMarch and September 2007, March 2008, September 2012CBS
Balance of payments statisticsShort-termSeptember 2006, January 2007, July 2012, July and November 2013, August 2014CBOS
General data dissemination system (GDDS)Short-termJune 2006, August and September 2007CBS, MOF and CBOS
Assessing technical assistance needs in economic statistics (with METAC)Short-termMay-June 2005CBS, MOF and CBOS
Government Financial StatisticsShort-termOctober 2005, March 2007, July 2008MOF
Monetary and Financial StatisticsShort-termDecember 2005, June 2006, July 2007, July 2008, October 2012, January 2014CBOS
SRFs Data ImprovementShort-termOctober 2012CBS
Multisector StatisticsShort-termApril/May 2012, January 2013CBOS, MOF, CBS TAT
Legal Department
AML/CFT legislationShort-termDecember 2013, March 2014 July and October 2014CBOS
Payment system lawShort-termSeptember 2007CBOS

Relations with the World Bank

(As of July 31, 2014)

1. The World Bank’s International Development Association (IDA) has no active lending portfolio in Sudan because of the country’s default on its financial obligations to IDA, which led to the suspension of disbursements in April 1993. After discussions between the World Bank and the Sudanese authorities on the need for Sudan to take steps toward normalizing its relations and establishing a track record with the World Bank, the authorities made small, intermittent debt service payments between mid-1999 and 2008. The amount of payments has not been sufficient to prevent a continued accumulation of arrears, which currently stand at about US$800 million and are growing.

2. The World Bank was a major player in the reconstruction of Sudan following the Addis Ababa peace agreement of 1972, but was mostly absent from Sudan between 1993 and 2002. As the prospects for peace with the South rose in 2003, the World Bank formulated a strategy for a potential reengagement. Following the signing of the Comprehensive Peace Agreement (CPA) on January 9, 2005 by the Government of Sudan and the Sudan People’s Liberation Movement, the World Bank became the administrator for two large Multi-Donor Trust Funds (MDTFs) that support the CPA, and built up its program of non-lending support. Fifteen MDTF partners1 have contributed US$790 million in paid-in funds to the MDTFs. MDTF-supported projects initially experienced implementation challenges, as have all development and recovery programs in Sudan, but performance has steadily improved. Significant results are being seen on the ground, including the successful MDTF-supported launch of the CPA-mandated new national currency and the completion of the 5th Population Census, though daunting challenges remain—most notably low capacity, especially at the state level and in the South. The MDTF closed at the end of 2013.

3. A new World Bank’s Interim Strategy Note (ISN) for Sudan was discussed by the World Bank’s Board in September 2013. The ISN aims to support the Government of Sudan to achieve the overarching goal of shared growth and institutional reform that provides economic opportunities and reduces conflict. The Bank will focus on supporting activities that accelerate growth and expand sources of growth, ensure equitable distribution of resources and access to services, and respond urgently to opportunities to consolidate peace in areas emerging from conflict. The Bank will support Sudan through carefully selected knowledge products and projects financed through partnership funds and structured across two pillars: (1) Manage the Economic Transition, and (2) Address Socio-economic Roots of Conflict.

4. The World Bank presently maintains a portfolio of approximately $120 million in non-lending technical assistance, funded primarily from global trust funds. The portfolio cuts across a range of important issues consistent with the ISN, including education, agriculture, environmental protection, and peace-building. In April 2014, the World Bank’s Board approved a new Sudan Multi-Partner Fund (SMPF) as a successor to the MDTF. It is expected that this new Fund will have starting capital approximating $10 million; it has proven challenging to mobilize donor support for this new Fund. Governing arrangements will be similar to the MDTF, with the Government of Sudan engaging as a full partner in the Fund’s Oversight Committee. The purpose of the Fund is to support the two pillars of the Bank’s ISN within the context of Sudan’s national development strategy (i.e., the current I-PRSP and forthcoming full PRSP, where the World Bank is leading the dialogue in collaboration with the AfDB).

5. The entry points for World Bank support—through management of the SMPF and other partnership funds as well as non-lending activities—vary according to the diverse conditions facing different regions of Sudan. At the National level, a focus on managing the transition and stabilizing peace entails a major role for analytical work and policy dialogue in support of the I-PRSP which focuses to a large extent on activities to promote economic diversification through a vibrant private sector. In Darfur, the World Bank works with partners, as security allows, to assess development and recovery needs and to prepare rehabilitation and development programs to be implemented as soon as conditions are right.

6. IDA’s financial reengagement requires clearance of Sudan’s outstanding arrears. The clearance of these arrears can only be undertaken once a firm and comprehensive agreement among preferred creditors is in place. Such an agreement would also include significant reductions in bilateral debts, so as to make the total debt service obligations sustainable. Following the eventual clearance of IDA arrears, an exceptional IDA allocation for Sudan as a post-conflict country would be sought, and the World Bank would prepare another strategy document which would include, inter alia, a pipeline of projects. The World Bank, together with the IMF supports the technical preparation of Sudan for a debt relief process through the Technical Working Group on Sudan’s External Debt, which met 8 times between 2011 and 2014 and brings together major bilateral and multilateral creditors of Sudan. In addition, March 2014 saw the Bank deploy a mission of its Debt Reduction Facility (DRF) to engage Sudan on matters related to its commercial debt obligations. The Bank continues to urge Sudan to intensify its outreach to its key creditors.

7. The World Bank has completed a series of major non-lending products since the CPA in 2005, including a National Public Expenditure Review in 2007, a Diagnostic Trade Integration Study (DTIS) in 2008, a Country Economic Memorandum (CEM) in 2009, a Country Integrated Fiduciary Assessment in 2011 and a Sub-National Public Expenditure Review in 2013. Other major sector works include an Investment Climate Assessment in 2010 and Education and Health Status Reports in 2011 and 2012. Major non-lending products planned to be completed and delivered in 2014/15are: A new Country Economic Memorandum focusing on economic diversification, an Update to the 2008 Diagnostic Trade Integration Study, Promoting Private Sector Revitalization in Darfur, a Benchmarking of the Business of Agriculture, and Financial Sector Capacity Building with a focus on financial inclusion.

8. To enrich this menu of policy and analytical support, the World Bank will seek to deepen dialogue—and open up space for civil society participation in such dialogue—in areas such as: managing the economic transition; making fiscal decentralization work; promoting economic diversification; and local area development.

Relations with the African Development Bank

(As of September 18, 2014)

Group’s Portfolio and Arrears

1. Since its first intervention in 1971 in Sudan, the Bank Group (AfDB) has approved to date 42 operations amounting to a total net commitment of UA331 million2. The Bank also approved grants for emergency assistance under the Special Relief Fund in 2001, 2003, 2010 and 2013 amounting to a total of US$3.0 million. The most recent is the Public Financial and Economic Management and Capacity Building Project approved in February 2014 financed with US$34.8 million from the Fragile States Facility (FSF). In terms of sector distribution, the portfolio is dominated by agriculture (54%), followed by infrastructure (28.6%), multi sector (8.9 %), finance (6 %) and social sectors (2.5 %).

2. The Bank’s ongoing operations include the Technical Capacity Building for Preparation of Full Poverty Reduction Strategy Paper (TCB PRSP), which was approved in July 2013 for US$2.85 million from Fragile States Facility. Support to PRSP preparation includes replicating the National Baselne Household Survey (NBHHS) by conducting a new household survey. This project will also help set up functioning management and coordination structures that will enhance the full participation of all donors and stakeholders, under the leadership and ownership of the Government. Other ongoing operations include the Darfur Water Project for Conflict Resolution and Peace Building, which was approved in April 2012 and is financed by Euro 3.3 million from the African Water Facility (AWF). This project will rehabilitate and construct water infrastructure in Darfur and demonstrate an integrated approach to water development. Under the Fragile States Facility (FSF), the other ongoing projects include Capacity Enhancement for Debt Management and Resource Mobilization (CEDMRM) approved in May 2012 for UA 1.05 million. The CEDMRM will build institutional and human capacities in Debt Units and other departments in the Ministry of Finance and National Economy (MoFNE), and the Central Bank of Sudan. Sudan has also been able to access competitive Bilateral Trust Fund financing for notable projects including: (i) Economic Diversification and Private Sector Study financed with USD 485,000 aimed at identifying opportunities for private sector contribution to the economy; (ii) Technical Assistance to Mamoun Beheiry Centre approved in August 2012 for US$260,500 which aims to improve the quality of policy analysis and policy dialogue currently in Sudan and (iii) the Capacity Building and Assessment of Options for Increasing Access to Energy in Sudan approved in October 2012 for US$340,500 that intends to identify and map out energy poverty in Sudan. In addition, a grant to support the University of Nyala (Darfur) to undertake a study on Scientific Adaptation of Livestock Breeds to Climate Change was approved in May 2013 for US$497,000.

3. The AfDB has not been able to undertake much needed regular investment activities in the country since 1995 because of arrears. As of end-August 2014, the arrears to the Bank Group stood at UA 207.4 million, of which UA 91.9 million is to the African Development Fund (ADF) window and UA 115.5 to the African Development Bank (ADB).

Sudan: Arrears to the AfDB Group as of 30 June 2013(Thousands UA)
TotalPrincipalCharges
ADF91,899.8566,944.2324,955.62
ADB115,532.8452,851.4662,681.37
Total207,432.69119,795.6987,636.99

Strategy and Programming

4. The Bank has maintained field presence and sustained policy dialogue with the Government of Sudan and Development Partners, especially on arrears clearance and debt relief and PRSP. It has conducted technical assistance and capacity building activities, using grant resources that are not affected by the arrears situation of the country (Fragile State Facility and the Bilateral Trust Funds). Recently, the Bank has also explored the opportunities to finance private sector operations in Sudan. To this end, the Bank has organized a Business Information Seminar on 14th September 2014 to expose the Sudanese private sector to the Bank’s private sector financing opportunities.

5. Given the arrears situation of the country, the Bank has not been preparing Country Strategy Papers for Sudan since 1994. Instead, it has been preparing Country Briefs, as the appropriate programming document. The last Country Brief (CB) was approved in October 2012 covering the period 2012–2014. However, a new CB covering the period 2014-2016 was prepared and will be considered by the Board on 24th September. The new CB is aligned with Sudan’s development priorities as articulated in the National Development Plan (NDP) for 2012-2016 and I-PRSP, as well as with the Bank’s Ten-Year Strategy (2013–2022). In particular, they are fully consistent with the Bank’s Strategy for Engagement in Fragile Situations in Africa 2014-2019, which builds on the Bussan New Deal for Engagement in Fragile States and the recommendations of the High Level Panel on Fragile States. All these documents primarily underscore the building of state capacity through institutional strengthening, and promoting inclusive and equitable growth.

6. Sudan still faces most of the challenges that prevailed when the last Country Brief (2012-2014) was prepared. These challenges include creating the conditions for peace and security, stabilizing the economy, enhancing institutional capacity, addressing weaknesses in PFM and improving overall governance. Since these issues remain relevant in Sudan today, the Bank has maintained these priorities in the new CB 2014-2016. Therefore, the previous focus on policy dialogue, technical assistance, capacity building and targeted operations will be maintained, but consolidated under two Pillars: i) Governance and Accountability; and ii) Skills and Technology. These two Pillars are complementary and mutually reinforcing, as they both seek to assist Sudan acquire the human and institutional capacity required to get out of fragility. In this context, progress was made on a number of issues and initiatives; Sudan has made significant progress in improving the political stalemate with South Sudan, evident in the signing of the Cooperation Agreement in 2012 and the Matrix of Implementation in 2013, which forms a solid framework for permanently resolving post-secession issues. On internal peace, the Doha Document for Peace in Darfur (DDPD) represents a solid milestone which augurs well for stability in Darfur. Finally, the on-going AUHIP-brokered negotiations between the GoS and SPLM-N, as well as the initiation of national dialogue for inclusive political reform, further demonstrate progress towards consolidation of internal peace and security.

7. Furthermore, Sudan has made considerable progress in implementing sound macroeconomic policy reforms, including bold austerity measures in both 2012 and 2013 and monetary policies. This has significantly reduced fiscal deficit, and relatively reduced exchange rate distortions, curbed inflation and stabilized the economy. Openness, transparency and accountability in the use of public resources are now being strongly strengthened by a Bank-financed project on public financial management, approved in December 2013. The country has also achieved nearly all technical milestones for HIPC debt relief as set by the Technical Working Group (TWG) comprising the Bank, WB, IMF and creditors, Sudan and South Sudan, and the AUHIP as facilitator. Notable among these milestones are: i) completion of the I-PRSP adopted in 2012; ii) over 90% reconciliation of external debt in 2012; iii) establishment of debt scenarios in 2012; iv) preparation of an Arrears Clearance and Debt Relief Strategy (ACDRS) in 2013; v) concluding and initiating the implementation of new SMP agreed with the IMF in 2014. The Government will use its debt relief strategy to prepare a coordinated arrears clearance plan for the Bank and the BWIs as soon as it gets positive signals from creditors on HIPC debt relief.

Statistical Issues

(As of September 20, 2014)

Assessment of Data Adequacy for Surveillance
General: Sudan’s current statistical data base appears broadly adequate for surveillance and program monitoring, but needs further improvements, including upgrading the base year, coverage, periodicity and timeliness of national accounts data; improving labor market and direct investment data; and more detailed and comprehensive fiscal accounting. Enhancing the status of the Central Bureau of Statistics (CBS) with the authority and resources to compile and disseminate official statistics and coordinate the national statistical work program is important for further statistical improvements, and should be addressed within the context of the ongoing work in developing a five-year National Strategy for the Development of Statistics (2012-16). Retooling of the CBS’ computing infrastructure should also be accorded high priority.
National accounts: The CBS lacks a comprehensive data collection program, and relies largely on administrative reporting which is not optimal for national accounts compilation. Economic surveys were last conducted in the 1970s and 1980s, and the benchmarks derived from these surveys inform current estimates of value added. The compilation of GDP by activity depends heavily on indirect indicators of growth rates and price indicators that are less appropriate. Informal activities are not covered, and are likely to be significant in areas such as retail trade and construction. Sudan’s national accounts data are based on the System of National Accounts 1968 (SNA 1968), and the base year of the existing GDP constant price series (by activity and by expenditure) is 1981. National accounts statistics are compiled with a lag exceeding three years; and there are no national accounts or industrial production data at sub annual frequencies. On the expenditure side, data are lacking on final consumption by households, investment, and changes in stocks.



The adoption of updated statistical guidelines (SNA 2008), rebasing of the national accounts, and developing procedures to improve the timeliness of GDP estimates should be among the core medium-term objectives of Sudan’s national accounts work program. There is an urgent need to increase funding to the CBS and to rebuild its capacity for conducting household, agricultural and enterprise surveys.
Price statistics: Practices in the production of the Consumer Price Index (CPI) are good. Monthly CPI data (base year=2007) are provided shortly after the end of each month. However, the CBS should begin developing plans for a new household expenditure survey to facilitate weight updates to the existing CPI. The CBS is developing for the first time, a quarterly producer price index (PPI) for manufactured goods. STA’s recent multisector statistics mission (April 2012) conducted a preliminary assessment of the methods and procedures for compiling the PPI; and issues regarding the frame and the sample size were raised with the authorities. The mission also advised on how the base year weights would need to be adjusted to reflect the reduced contributions of oil to the Sudan economy.
Government finance statistics: Government finance statistics reported to MCD are broadly adequate for program monitoring, with the main revenue, expenditure, and financing items reported on a monthly basis with a lag of about one and half month. The reported statistics are for the central government only, and do not include the states and publicly owned corporations. Data are submitted using an economic classification and, while the allocation of resources by MOFNE to the various ministries is reported, their actual expenditures are not.



Since STA’s multisector statistics mission (April 2012), there has been a progress in implementing GFS classifications at the level of state governments. However, there has been no progress in all other sub-national governments and extra budgetary funds. The responsibility for GFS compilation and dissemination is assigned to the chamber of account within the MOFNE. There are no comprehensive data reconciliations on government claims on and liabilities to the banking system; and the recording of “arrears securities” is not in line with the GFSM guidelines. The compilation of consolidated GFS for the general government with the objective of producing the statement of government operations should be a key priority.
Monetary and financial statistics (MFS): Sudan has received significant technical assistance to improve the collection, compilation, and dissemination of monetary and financial statistics. STA’s multisector statistics mission (2012) found that all major recommendations made by the previous MFS mission in 2007 have been implemented. STA fielded two MFS missions—one in October 2012 and another one in January 2014—to assist in addressing data issues and improving the account classifications in the standardized report forms. The current coverage of Sudan’s monetary statistics includes the CBOS and 32 commercial banks, which constitute the other depository corporations (ODCs). Due to South Sudan’s secession, the Bank of South Sudan (BOSS) and the conventional banks operating in South Sudan were excluded from the coverage of the CBOS and the ODCs, respectively, beginning with July 2011 data. The revised monthly statistical return has been used by all commercial banks to report data for compiling monetary statistics. However, stronger efforts are needed to improve the consistency in reporting of inter-bank data. Going forward, the CBOS should also develop a work program for collecting and compiling data on insurance corporations and pension funds for inclusion in Sudan’s monetary statistics.
External sector statistics: Daily exchange rate data are posted on the CBOS’ web page with minimal lags. There are several areas for improvement in the external accounts, particularly with regard to direct investment (DI), external debt arrears, remittances, goods and services, capital transfers and oil statistics. The lack of survey data continues to affect the compilation of important balance of payments and IIP items such as DI. The implementation of a DI survey has been delayed due to the lack of financing. Consistency between external sector statistics and monetary and financial statistics needs to be further improved, in particular regarding the recording of reserve assets (ongoing) and the treatment of Fund accounts. Compilation of the data template on international reserves and foreign currency liquidity should be initiated. During the last METAC mission it was clarified that CBOS’s earmarked reserves are not readily available; therefore they are not to be classified as reserve assets. Currently only the SDR holdings, reserve position in the Fund, and foreign currency holdings at CBOS vaults are reserve assets.



STA’s 2012 multisector statistics mission assisted the CBOS in improving the compilation of a number of balance of payments and IIP items. METAC is providing ongoing support to improve the accuracy and consistency of external sector statistics. The CBOS should resubmit BOP and IIP data to STA including significant corrections discussed in the last METAC mission.
Data Standards and Quality
Sudan participates in the General Data Dissemination System (GDDS) since August 2003. GDDS metadata and plans for improvement need to be updated. No data ROSC is available.
Reporting to STA
Annual data reported for the Government Finance Statistics Yearbook cover only budgetary central government up to 1999. No monthly and quarterly fiscal data are reported for the International Financial Statistics (IFS). The reporting of external trade statistics for inclusion in the Direction of Trade Statistics (DOTS) database is done with significant lags. National accounts data are not provided for publication in the IFS. The CBOS has compiled and reported to STA for publication in the IFS, the Standardized Report Forms (SRFs) 1SR for the central bank and 2SR for ODCs. However, timeliness of data reporting and dissemination should be improved. The CBOS also reports to STA, quarterly balance of payments and annual IIP data. As a follow up the STA’s recent multisector statistics mission, the authorities should submit updated GDDS metadata for dissemination on the Dissemination Standards Bulletin Board.
Sudan: Table of Common Indicators Required for Surveillance(As of September 30, 2014)
Date of latest observationDate receivedFrequency of Data7Frequency of Reporting7Frequency of publication7
Exchange Rates6/30/20136/30/2013DDD
International Reserve Assets and Reserve Liabilities of the Monetary Authorities1June 20137/7/2013MMM
Reserve/Base MoneyJuly 20149/8/2014MWM/W
Broad MoneyJuly 20149/8/2014WWM/W
Central Bank Balance SheetJuly 20149/8/2014MMM
Consolidated Balance Sheet of the Banking SystemJuly 20149/8/2014MMM
Interest Rates212/31/051/09/06WMM/W
Consumer Price IndexAugust 20149/8/2014MMM
Revenue, Expenditure, Balance and Composition of Financing3 – General Government42014: Q2August 2014MMM
Stocks of Central Government and Central Government-Guaranteed Debt52014:Q2August 2014AAA
External Current Account Balance2013:Q4July 2014QQQ
Exports and Imports of Goods and Services2013:Q4July 2014MMM
GDP/GNP2013July 2014AAA
Gross External Debt2014:Q2July 2014IAA
International Investment Position62012July 2013AAA

Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

Foreign, domestic bank, and domestic nonbank financing.

The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Includes external gross financial asset and liability positions vis-à-vis nonresidents.

Daily (D); Weekly (W); Monthly (M); Monthly/Weekly (M/W); Bi-monthly (B); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).

Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

Foreign, domestic bank, and domestic nonbank financing.

The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Includes external gross financial asset and liability positions vis-à-vis nonresidents.

Daily (D); Weekly (W); Monthly (M); Monthly/Weekly (M/W); Bi-monthly (B); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).

Partners having paid in funds to the MDTFs are: Netherlands, Norway, United Kingdom, European Commission, Canada, Sweden, Germany, Finland, Spain, Denmark, Italy, Egypt, Iceland, Greece, and the World Bank. The World Bank contributed (from IBRD surplus) US$5 million to each of the MDTFs.

For June 2012, the exchange rate between the Unit of Account (UA) and the US Dollar (USD): UA1 = USD1.51.

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