Home | Keywords | Subject | Economics & Development | International Debt

International Debt

Most of Sudan’s debt dates back to the days of late president Ja’afar Nimeiri. It grew from $9 billion in 1985 to approximately $41 billion in 2012. The majority of it is owed to the Arab Gulf states of Saudi Arabia and Kuwait.

In 2012 Sudanese finance minister, Ali Mahmood Abdel-Rasool, disclosed that Sudan pays $600 million in debt repayments to Arab sovereign funds which he said is a tiny fraction of the overall external debts with interest.

The International Monetary Fund (IMF) released figures in September 2012 showing that Sudan’s debt will reach $45.7 billion in 2013 up from $39.5 billion in 2010.

The government in Khartoum is legally obligated to honor the entire debt despite the secession of South Sudan in July 2011 following the results of a referendum held six months prior to that under the terms of the 2005 Comprehensive Peace Agreement (CPA) which allowed Southerners to decide whether to remain united with the north or create their own independent state.

Sudan in South Sudan signed an agreement in Addis Ababa in September 2012 that Khartoum and Juba will work jointly to seeking debt relief from international creditors. If these efforts are unsuccessful the two sides will sit down again to decide on how to split the debt.




The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


South Sudan Conflict: SPLM is the problem and the solution 2017-06-23 23:55:36 By Tor Madira Machier, Since its inception more than 30 years ago, the fractured Sudan People's Liberation Movement, the SPLM has been the reason for the suffering the South Sudanese have been (...)

The Nile Basin Cooperative Framework Agreement: The impasse is breakable! 2017-06-22 04:51:22 By Salman M.A. Salman A summit of the head of states of the Nile Basin countries is planned for June 22, 2017, in Entebbe, Uganda, to discuss the impasse over the Nile Basin Cooperative (...)

Sudan, Libya, and Support for Radical Islamic Militants: A Vignette 2017-06-21 23:24:54 By Eric Reeves | June 21, 2017 In October 2014, I analysed some of the implications of minutes reflecting the deliberations of the most senior military and intelligence officials of the National (...)


MORE






Latest Press Releases


HRW denounces "collective punishment" in South Sudan’s Wau 2017-04-15 07:06:48 Human Right Watch South Sudan: New Spate of Ethnic Killings Urgent Need for Justice; UN Should Increase Patrols in Wau (Nairobi, April 14, 2017) – Government soldiers and allied militias (...)

Statement by South Sudanese Communist Party on the National Dialoguel 2017-03-22 05:44:42 The Communist Party of South Sudan On the Initiative of the National Dialogue The initiative taken by the President of the Republic of South Sudan declaring a need for a national dialogue is an (...)

An Appeal to President of the Republic of South Sudan 2017-03-15 07:22:45 Dear. Mr. President, I write to appeal to you for the release of political detainees now in the custody of the National Security Service at Jebel and other detention facilities. In doing this, I (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.