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Sudan needs swift reforms to revive ailing economy: World Bank

Rising inflation and the loss of nearly 75 percent of oil earnings following the north-south split in 2011 have led to a steady decline in the Sudan's economic growth over the past few yearsThe World Bank on Sunday urged Sudan to undertake swift structural reforms to revive its ailing economy, which a top Sudanese official insisted had been adversely impacted by US trade sanctions. The decline comes on top of an economy already damaged by US trade sanctions imposed since 1997, making international banking transactions cumbersome when it comes to doing business with Sudan. “It is essential that Sudan undertakes a combination of institutional, macro-economic and sectoral reforms to reach a stable growth path,” said a World Bank report released in Khartoum.

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