Sudan vows to pay off “every single penny” of China’s debt
March 21, 2017 (KHARTOUM) – The Sudanese government has pledged to settle the entire Chinese debt saying Beijing’s investments continued to flow into the country despite the negative impact of South Sudan’s secession.
According to the International Monetary Fund (IMF), Sudan’s external debt has reached $51 billion. China’s debt on Sudan is estimated at more $10 billion.
The deputy chairman of the higher committee for Sudan relations with China, India and Russia, Awad Ahmed Al-Jaz, said: “China’s investments continue to flow despite the negative impact of South Sudan’s secession and failure of the international community to fulfil its obligations towards Sudan”.
Speaking to the Blue Nile T.V. Tuesday, Al-Jaz said China has agreed with Sudan to implement four projects, saying it provided an additional $3 billion loan to the Sudanese government.
He denied that Beijing is exercising pressures on Sudan to retrieve its debt, saying Sudan will repay every single penny of China’s money.
The Sudanese official pointed that China is currently building an integrated slaughterhouse in Khartoum, saying the construction work in Khartoum’s new airport would begin soon.
He pointed that China has allocated $60 billion for energy, oil, industrial and agricultural investments in Africa besides $40 billion for investments in the Arab world, saying that Sudan is part of both Africa and the Arab region.
Al-Jaz affirmed that Sudan’s relation with China is firm despite the foreign pressures, blockade and separation of South Sudan which took with it more than 75% of the oil revenue.
China has invested more than $20 billion in Sudan mostly in the oil sector during the past two decades. Beijing provides low-interest loans and weapons transfers in return for oil.
(ST)