World Bank to discuss Sudan’s debt relief next April

March 12, 2017 (KHARTOUM) – A round-table meeting will be held at the World Bank (WB) headquarters in Washington next April to discuss Sudan’s debt relief, Finance Minister Badr al-Din Mahmoud said on Sunday.

At the end of 2015, Sudan’s external debt amounted to about $50 billion approximately, including an estimated $1.6 billion deposited in the Central Bank.

Speaking after a meeting with Xavier Furtado, World Bank Group Country Representative to Sudan, Mahmoud annouced the upcoming meeting and called to include all the senior creditors, adding that Khartoum prepared the information and data about the debt, and also will present a paper to the meeting.

The minister further called on the World Bank to support Sudan’s efforts to normalise its financial relationship with the international system, U.S. banks, and facilitate remittance operations and trade exchanges.

For his part, Furtado said the meeting would discuss the Sudan’s normalisation process with the international financial system and ways to support refugees in Sudan.

The debt relief process requires the unanimous consent of all 55 countries in Paris Club.

Khartoum and Juba have agreed to work jointly to seek debt relief from creditors and if that fails will sit down to see how it can be divided.

(ST)