By Reuters Staff
1 Min Read
FILE PHOTO: Vehicles line up for gasoline at a gas station in Khartoum, Sudan, May 4, 2019. REUTERS/Umit Bektas/File Photo
WASHINGTON (Reuters) - World Bank President David Malpass on Friday said he was optimistic that Sudan’s exchange-rate stabilization and reforms would lead to broad-based growth and poverty reduction.
In remarks to Group of 20 finance officials, Malpass said he expected a rapid clearance of Sudan’s arrears to the World Bank, and hoped for speedy progress toward a decision point on debt forgiveness under the Heavily Indebted Poor Countries initiative.
Malpass added that both Ethiopia and Nigeria would benefit from ending their own costly dual exchange rate systems.
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