Khartoum Juba agree on strategies to secure Sudan’s debt relief
May 21, 2017 (ADDIS ABABA) – Last Friday during a tripartite held in Addis Ababa, Sudan and South Sudan agreed on strategies for engaging creditors and donors. to relief Sudan from its debt before the secession of South Sudan in 2011.
Facilitated by the African Union High-Level Implementation Panel (AUHIP), the fourth meeting of the Tripartite Committee of the Joint Approach to the International Community held in Addis Ababa.
Two countries recommitted themselves to work together to achieve international support for their economies and endorsed strategies and the next steps for engaging creditors and donors, said a statement issued by the African Union.
Further, the Committee decided to promote joint development programmes along the common border areas, in line with the principles of a “soft border” and the vision of attaining two viable States at peace with each other.
In a statement emailed to Sudan Tribune, the Chairperson of the African Union Commission (AUC), Moussa Faki Mahamat, welcomed the successful conclusion of the meeting.
Mahamat “reiterated, in particular, the African Union’s support for the decision of the United States in January 2017 to commence the process of lifting of sanctions against Sudan, and noted with satisfaction the positive actions that the Government of Sudan continues to sustain in collaboration with the United States”.
“The Chairperson shares the confidence of the Committee that Sudan is on course to achieve the lifting of sanctions,” further said the statement.
The Chadian diplomat is referring to the decision of the former U.S. President Barak Obama on the partial lift of sanctions which may be effective next July if the President Donald Trump approves.
Khartoum inherited the entire external debt that existed prior to the secession of the south. The two countries have yet to agree on how to split up the debt.
Both sides decided to reach out to creditors to obtain debt relief and if that fails will sit down to see how it can be divided using the “zero option”.
It is near impossible for Sudan to secure debt relief even if it satisfied technical and economic requirements unless it succeeds in convincing all 55 members of the Paris Club creditor nations whom he said have the power to slash 67% of conventional debt owed by Sudan.
(ST)