VOL. XXXI

NO. 1

12-OCTOBER-1987

Financial and Banking News

BUDGETS AND REVENUES

Sudan Devalues by 45% to Get IMF Credits

Sudan has devalued its currency by 45% from S2.5=$1 to S4.5=$1 afterannouncing that it had reached an agreement with the International Monetary Fund(IMF) which would release $4,854mn in credits over the next four years. However,no formal agreement has been announced by the IMF, which is forbidden by its ownstatutes from lending to members who are in arrears. Sudan's arrears to...