Sudan Has Rocky Path Ahead in Settling Its Debts

The U.S. has removed Sudan from its blacklist of state sponsors of terrorism after nearly three decades. This does not mean that its extensive debt owed to various international institutions, including the International Monetary Fund (IMF), the World Bank and the African Development Bank, will disappear overnight, according to Acting Minister of Foreign Affairs, Omar Gamareldin. He added that Sudan's return to the international financial system would take time, due to the bureaucratic procedures involved. Carol Baker, head of the IMF mission to Sudan, has said that the country will not be able to obtain new funds until a settlement with the  institutions has been reached. Baker added that to reach a settlement, conditions such as a "strong performance" from Sudan authorities during an economic programme would need to be monitored by experts from the IMF. The country also requires support from the majority of donors, including the U.S., to settle debts with international financial institutions, she said.

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World Bank / IMF Spring Meetings (file photo).

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