أثر الديون الخارجية على ميزان المدفوعات في السودان دراسة تطبيقية (١٩٩٢م - ٢٠١٤م)

Abstract

The research aimed at measuring the impact of external debts on Sudan balance of payments during the periods (1992-2014). As well as identifying the main causes behind it. The research proposed an econometric linear logarithmic function composed of Balance of Payment (BoP) as dependent variable and both external debts and Foreign Direct Investment (FDI) as explanatory variables. Using the descriptive-analytical approach namely, The Ordinary Least Squares method (OLS), which showed that there is inversesignificantrelationship between the BoPExternal Debtswhile FDI mergedsignificant inversedrelationship between the balance of payments and external debt. The research attained an important resultthatexternal debts in Sudan led to serious and deep structural crisis which stemmed from inadequacy of the economic policies that adopted to Sudaneconomy in reality. The imbalance may be caused by permanent factors; if the State fails to take necessary actions and policies for adaptation, truly, will continue to finance the deficit from external sources, which entails increasing the external debt burden up to the stage of collapse. The research reached the following recommendations: Developing countries such as Sudan should not rely on the abroad to solve its domestic economic problems, because that should convert a large portion of GDP to meet the obligations of these countries to the abroad, and so far result in economic dependency to overseas countries. There are a need for coordination between domestic macro-economic policies and that of the outside world so as to increase foreign investments to improve the balance of payments thus, reduce foreign debts.