§ Mr. WorthingtonTo ask the Chancellor of the Exchequer what is the present relationship between the International Monetary Fund and Sudan; and what are the IMF's major grounds for concern about Sudan's financial position and conduct.
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§ Mr. NelsonAs of 5 May, Sudan had arrears to the IMF amounting to SDR 1.177 billion or $1.664 billion. Sudan was declared ineligible to use the general resources of the fund on 3 February 1986, a declaration of non-cooperation was issued on 14 September 1990, its right to use special drawing rights other than for settling its arrears to the fund was suspended on 2 November 1990 and its voting rights were suspended as from 9 August 1993. The fund has initiated proceedings that could lead to compulsory withdrawal of Sudan from the fund.
The fund took these measures as a result of Sudan's persistent failure to co-operate with the fund in addressing the problem of the arrears evidenced by failure to formulate appropriate economic adjustment measures and failure to agree a schedule of payment to the fund with a view to stabilising the arrears.