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Tuesday, Nov 6, 2012 12:15 PM UTC

IMF: Sudan must further cut fuel subsidies

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Topics: From the Wires,

CAIRO (AP) — The International Monetary Fund is urging Sudan to further cut fuel subsidies while taking into account public anger over austerity measures meant to counter the country’s economic crisis.

The IMF said that despite cuts in June, subsidies remain too high. Sudan maintained subsidy levels as its currency lost more than half its value after the oil-rich southern half of Sudan declared independence last year.

Protests erupted in the Sudanese capital, Khartoum, when the government slashed subsidies, doubling the price of fuel and food.

In a report released Monday, the IMF urged Sudan to mount a public information campaign “to allow consumers to adjust their consumption” to lower subsidies but did not offer financial support.

Sudan and South Sudan signed a deal in September to restart oil exports from South Sudan.

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