Sudan is Libya’s largest debtor, document shows
February 9, 2011 (KHARTOUM) – Sudan owes more than $1 billion to Libya making it the country’s largest debtor, according to a document obtained by Reuters.
As of the end of 2009, Libya had been paid back $1.302 billion, leaving an outstanding balance, when interest is included, of $3.231 billion, it said.
Of that, $1.287 billion, belongs to Sudan though it is not clear when Khartoum acquired that debt.
According to the document, both countries held a meeting in 2009 to resolve the matter but it failed to reach an agreement on repaying the loans.
Sudan is pressing the international community to forgive its $37.8 billion, most of which is owed to the Arab Gulf states of Saudi Arabia and Kuwait.
The issue of national debt is a sticking point between the North and soon-to-secede South with regards to how to divide it among them.
South Sudan insists that it should not bear any of the debt on the grounds that it was not used for any development in the region but was utilized by the North.
However, both sides appear agreed on the need for help by the international community to alleviate the debt burden. So far none of Sudan’s major creditors offered relief.
“We are seeking to have (all of Sudan’s) … loans forgiven because we believe that both governments, the Government of Sudan and the would-be Government of South Sudan, would not be in a position to repay these loans in the near future,” Marial Awour, the Sudanese junior minister of finance, told Reuters.
The British ambassador to the United Nations Mark Lyal Grant in a response to a question today said his government will look for ways it can assist on the issue of debt.
The Obama administration promised similar assistance to reward Sudan for conducting smooth and peaceful referendum.
(ST)
Peter Mading
Sudan is Libya’s largest debtor, document shows
I hope South Sudan was not part of this huge debts. Bashir should give detailed explanatory on that. After the signing of the Peace Agreement South was given a share in oil revenue acured from the South to be 50% which did not happen for the South to get allocated 50%. Instead of the 50% South was cheated and given less minimum of 26% of the Oil revenue.
Unless it is the Arabs’ tactics to still find more chances on how to graspsed or steal South Sudan resources for themselves.
Why revealing the outstanding debts at this time when South and North have not settled outstanding issues of the CPA?
My Dear Southerners, take note of this kind and be prepared during the negotiation of the remainings parts of the Comprehensive Peace Agreement. See, they are teaming up just to get your resources by all means.
North had stored Oil for their upkeep to last them for 70 years and wanted to fill the gap by this tactic that will last them for 100 years.
This is unbelievable debt.
Chanson
Sudan is Libya’s largest debtor, document shows
So good so far Mr. Bashir war is always expensive .You see now!! what is happening to you as the head of the country(North).Sir we are sorry that amount there was aresults of finishing the SOUTHERNERS during war time and the rest of the amount was for your development in the North region.Which tell us that, South need nothing to do with that in the future (In coming 9 july 2011).
I think we (South) are out of that Sir.Just see the way how you can convince Libya,s government to forgive that amount Otherwise I can see a dark future of the north Sudan in your face.
Padiet Deng Alony
Sudan is Libya’s largest debtor, document shows
From 1983 upto 2005 South Sudan knows nothing about the loans northerners are talking. GOSS and GONU knows only 6 years of interim period if there were any loans taken in consultation with GOSS, if not then GOSS don’t know that debits and is not involved.
All those loans were taken by Khartoum successive regime to buy weapons so that they fight South with them and develope the north only.
Therefore, it is only north taking that burden.