Home | Keywords | Subject | Economics & Development | International Debt

International Debt

Most of Sudan’s debt dates back to the days of late president Ja’afar Nimeiri. It grew from $9 billion in 1985 to approximately $41 billion in 2012. The majority of it is owed to the Arab Gulf states of Saudi Arabia and Kuwait.

In 2012 Sudanese finance minister, Ali Mahmood Abdel-Rasool, disclosed that Sudan pays $600 million in debt repayments to Arab sovereign funds which he said is a tiny fraction of the overall external debts with interest.

The International Monetary Fund (IMF) released figures in September 2012 showing that Sudan’s debt will reach $45.7 billion in 2013 up from $39.5 billion in 2010.

The government in Khartoum is legally obligated to honor the entire debt despite the secession of South Sudan in July 2011 following the results of a referendum held six months prior to that under the terms of the 2005 Comprehensive Peace Agreement (CPA) which allowed Southerners to decide whether to remain united with the north or create their own independent state.

Sudan in South Sudan signed an agreement in Addis Ababa in September 2012 that Khartoum and Juba will work jointly to seeking debt relief from international creditors. If these efforts are unsuccessful the two sides will sit down again to decide on how to split the debt.




The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


BlindsSelf-confidence and preparedness against Disasters in Sudan 2020-09-21 11:46:04 Why things are only getting worse and the papers are filled with stories of gloom and doom in Sudan? By Mahmoud A. Suleiman The answer to the previous questions needs to know the reasons first, (...)

South Sudan: On Right of Access to Information and Media 2020-09-19 15:01:51 By Roger Alfred Yoron Modi South Sudan’s Right of Access to Information Act, 2013, in Section 35, enshrines the following: 1- The Minister (Minister responsible for Information and Broadcasting) (...)

Is the Juba Peace Agreement a Turning Point for Sudan? 2020-09-15 18:48:43 By Dame Rosalind Marsden Sudan is looking towards a brighter future after the initialling of the Juba peace agreement on August 31, an important first step towards bringing peace to the conflict (...)


MORE






Latest Press Releases


Sudan: Performing arts is not a crime, assaulting women and artists is! 2020-09-20 08:54:28 The Strategic Initiative for Women in the Horn of Africa (SIHA) Sudan is still struggling with militant Islamist ideology KHARTOUM: Central Khartoum Primary Court issued a verdict against five (...)

Civil Society Statement in Response to The Law of Various Amendments 2020-08-14 07:11:00 A Collaborative Civil Society Statement in Response to The Law of Various Amendments (Abolishing and Amending Provisions Restricting Freedom) – Exposing ‘a wolf in sheep’s clothing’ Sudanese women (...)

Remarks by SRF leaders at the Friend of Sudan meeting on peace 2020-08-13 07:58:58 Chairman of the Friends of Sudan Conference, Your Excellency, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, The Prime Minister of Sudan and the participating team from the (...)


MORE

Copyright © 2003-2020 SudanTribune - All rights reserved.