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New lease of life for Sudan as US lifts most of its toughest sanctions

For many years, Sudan had been under tight sanctions imposed on it by the United States. The allegations were that Sudan supported Islamist terror groups.

The exclusion from trading with the West had brought severe negative results to the conflict-torn country. But as of present, this may change since the United States lifted most of its toughest sanctions on the country. There has been a glimmer of hope in the country, expressed by the country’s government.

While some still remain, the fact that the majority have been removed has given the country a space to breathe. Economic conditions in Sudan have been mired in persistent fiscal deficits, high inflation and the trade embargo imposed by Washington in 1997 over Khartoum’s alleged support for Islamist militant groups. The financial sanctions had put restrictions on international banking transactions, exchange of technology and spare parts, and other cumbersome trade regulations have hampered economic growth.

It is widely expected by experts that the removal of these sanctions will ease the problems of Sudan’s dilapidated economy. “Bold and broad-based reforms” have been called for by the International Monetary Fund to kick-start the economic growth for the country.

 

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