Sudan: The black giant struggles to rise and shine.

Bilad as Sudan. The land of the Blacks. A vast country with hidden potential and promise of prosperity. Sudan is one of those countries whose potential remains untapped and unexploited because of persistent internal disturbances, and unwarranted external interference from interested quarters.

Sudan is one of the countries on the U.S. hit list as a “state sponsor of terrorism” (whatever that means!), that disqualifies it from accessing American in particular, and Western in general, technology and aid freely, and creates all sorts of hurdles in it’s path towards economic progress and prosperity.

Compared to it’s neighbors, Sudan has recorded a decent average growth of 7% to 8% in the last few years, and is expected to notch up % growth in the current fiscal according to official sources.

The major source of revenues for this African giant are from oil that contributes over 50% of its revenues, though livestock and related products are gaining in importance as a contributor to the national kitty. In fact, the Sudanese Government is keen to develop this sector in a big way to take advantage of the vast expanse of land available to it, to develop this activity.

Sudan recently drafted the International Monetary Fund to monitor and report on its economic performance and policies in order to achieve the objective of sustained economic growth, macro economic stability, and rebuilding foreign exchange reserves.

According to the IMF, the major reasons for a fall in Sudan’s revenues is the fall in the oil prices, and it’s penchant for intervention in the foreign exchange markets in order to conserve precious foreign exchange, among other things.

On its part, the Sudanese Government holds the sanctions regime against it to be mainly responsible for its economic troubles, though at the same time, it also points that this very fact has insulated Sudan from the worst effects of the global economic recession.