Egypt offers to mediate between Sudan and IMF on debt relief
August 20, 2010 (KHARTOUM) – Egypt is prepared to assist Sudan in negotiating with the International Monetary Fund (IMF) over its outstanding debt, its finance minister said today.
Ghali is also the chairman of the International Monetary and Financial Committee (IMFC)
According to Egyptian media, Ghali offered his country’s expertise in negotiating for debt relief.
Last May, Sudan said that the IMF agreed to start talks on debt owed by Sudan but warned that any relief may take years to materialize. Sudan debt burden is reportedly $36 billion and less than half of that amount is the original amount borrowed while the rest is interest and late payment penalties.
In a report released this month the IMF projected Sudan’s debt to reach $37.8 billion this year.
Ghali also discussed with the Sudanese official Egypt’s experience in building resorts on the Red Sea and utilizing fishery resources as well as launching joint projects that benefit both sides. Egyptian media said that Ghali will visit Sudan soon to meet with president Omer Hassan Al-Bashir and governors of Sudanese states to discuss details of prospective projects.
(ST)
Mr Famous Big_Logic_Boy
Egypt offers to mediate between Sudan and IMF on debt relief
My God $37.8 Billion hard to believe, china will lick arab feets in order to get debt pay back. Criminal Bashir dancing with Southern oil, now let the game begin.
DASODIKO
Egypt offers to mediate between Sudan and IMF on debt relief
Egypt offers to mediate between Sudan and IMF on debt relief. The question I would like to find an answer is how can a country mediate between UNSC and a country? I mean the international organizations have laws and regulations to be discussed between the ORG and the country concerned. But relations and disputes between country and country could be mediated. I think may be the Egyptians want to sell the metro to Sudanese bussinessman!