Post: #1
Title: US promises to help the country to debt relief: Sudan says
Author: SudaneseOnline News
Date: 01-10-2015, 04:24 PM
Jan 10, 2015-Khartoum-SudaneseOnline-Minister of State in Sudanese Finance Ministry, Abdul Rahman Dirar, revealed on Friday on American promises to help Sudan on its foreign debt exemption file which amounts more than $ 45 billion, stressing that the country has fulfilled all the technical conditions for the exemption by a Committee comprising Sudan, South Sudan and the African Union.
Dirar said that there are efforts by the competent authorities and Sudan, South Sudan and the African Union to address creditors concerning Sudan’s foreign debt relief
He announced that efforts are being made by Sudan’s Finance Ministry with the United States and Britain as the largest creditors, explaining that Washington promised to move on the issue of external debt relief through recent meetings with the International Monetary Fund held in Washington.
Sudan’s official revealed that his country demanded lift of the economic embargo on the Sudanese to achieve the economic stability and improve the country's balance of payments
Around three quarters of Sudan’s $40 billion plus external debt is owed to the Paris Club of creditor nations and other non-member states. The remaining balance is equally divided between commercial banks as well as international and regional financial bodies.
Last year, an IMF official said that it will be near impossible for Sudan to secure debt relief even if it satisfied technical and economic requirements.
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