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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Use oil money wisely, IMF tells Sudan

Posted on 26 April 2013

The Sudanese government should use renewed oil revenue to provide a foundation to its economy, an International Monetary Fund representative said.The Sudanese government announced that oil began to flow through pipelines extending to Port Sudan in early April. South Sudan gained control over the bulk of the region’s oil reserves when it gained independence from Sudan in 2011.
Sudan controls the exports pipelines, however, and disputes over transit fees prompted the South Sudanese government to halt oil production in 2012. South Sudan gets nearly all of its revenue from oil………………………………………..Full Article: Source


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