Sudan Gets Huge IMF, World Bank Debt Cut Amid Protests
The World Bank and the International Monetary Fund (IMF) have announced that Sudan is to benefit from U.S.$50 billion in foreign debt relief, effectively reducing the country's current estimated U.S.$56 billion foreign liability to U.S.$6 billion over three years.
The Executive Boards of the World Bank's International Development Association and the IMF said in a statement that they have determined that "Sudan has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative".
Sudan is the 38th country to reach what is known as the "HIPC Decision Point". However hundreds of protesters took to the streets in the capital Khartoum to demand the transitional government resign over controversial economic reforms. Citizens are unhappy with the IMF-backed reforms that slashed subsidies on petrol and diesel, more than doubling their price.
World Bank, IMF - Sudan's Debt to Be Cut By U.S.$50 Billion
Radio Dabanga, 30 June 2021
The World Bank and the International Monetary Fund (IMF) have announced that Sudan is to benefit from $50 billion in foreign debt relief, effectively reducing the country's current… Read more »
EU, U.S. Welcome IMF, World Bank HIPC Decision On Sudan
Radio Dabanga, 1 July 2021
The international community has reacted enthusiastically to the announcement on Tuesday by the World Bank and the International Monetary Fund (IMF) that Sudan has successfully… Read more »
U.S. State Department Lauds Sudan's 'Great Progress' in Financial Transparency
Radio Dabanga, 27 June 2021
The US state department announced that Sudan's transitional government has made great progress in financial transparency, after publishing the spending budget of all ministries… Read more »
Sudan to Receive Debt Relief Under the HIPC Initiative
IMF, 29 June 2021
The Executive Boards of the World Bank's International Development Association (IDA) and the International Monetary Fund (IMF) have determined that Sudan has taken the necessary… Read more »
Sudan Entitled to Enjoy Debt Relief Assistance Within HIPC
SudaNow, 30 June 2021
Leading international financial bodies are agreed in Washington that Khartoum has made the required moves entitling the Sudan to enjoy debt relief assistance within what is known… Read more »
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 ... Read more »
The executive boards of the World Bank and International Monetary Fund (IMF) declared Sudan eligible for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) ... Read more »
For the first time since sanctions were imposed in 1997, Sudan is now free to enter business deals with the U.S. and major Western firms. In addition, Khartoum will now be free to ... Read more »