11 July 2019

Sudan: Agreement on rescheduling of Saudi debts

Riyadh — The Caretaker Undersecretary of the Ministry of Finance and Economic Planning Dr. Abdel-Moneim Mohamed Al-Tayib has signed with the Saudi Fund for Development (SDF) agreements to reschedule Sudan's debts resulting from the loans and the Saudi Export Program provided by the SDF itself. A delegation headed by Undersecretary of the Ministry of Finance accompanied by a number of officials, in the presence of the Sudan Ambassador to the Kingdom of Saudi Arabia, met on Tuesday with the SDF officials and discussed the support provided by the Government of Saudi Arabia to Sudan in various developmental fields. According to a joint report by the World Bank and the Ministry of Finance and Economic Planning, the total external debt amounts to about $ 58 billion, the largest of which are interest and delay penalties. External debt was between $ 17 and $ 18 billion, and the remaining 85% of the total debt was interest and sanctions, which had been accumulating since 1958. As stated by the report, Sudan's creditors list includes multilateral institutions at 15%, the Paris Club 37%, 36% to other parties and the rest of debts for the private sector.

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