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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.
- Tuesday 7 May 2013
April 6, 2012 (JUBA) – The International Monetary Fund (IMF) has earmarked South Sudan as one of the countries set to benefit from its rapid credit facility, an initiative extended to countries recovering from war and external shocks. (...)
- Wednesday 10 April 2013
April 9, 2013 (KHARTOUM) – The deputy director of the Middle East and Central Asia department at the International Monetary Fund (IMF) Edward Jameel today warned that it will be near impossible for Sudan to secure debt relief even if it (...)
- Wednesday 29 August 2012
August 28, 2012 (JUBA) - The Executive Board of the International Monetary Fund (IMF) has included South Sudan in a list of 72 low-income countries now eligible for concessional lending.
The IMF’s decision to include South Sudan was (...)
- Sunday 14 April 2013
April 13, 2013 (KHARTOUM) - The African Development Bank (ADB) has pledged to keep up its support to Khartoum government until Sudan’s foreign debt problem is resolved.
In a joint meeting between Sudan’s under-secretary of finance, (...)
- Friday 8 March 2013
March 7, 2013 (KHARTOUM) – The Sudanese finance and national economy ministry today reiterated that it is eligible for debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative.
The Undersecretary of the ministry Yusuf (...)
- Thursday 25 April 2013
April 24, 2013 (KHARTOUM) – The Sudanese finance and national economy minister Ali Mahmood Abdel-Rasool disclosed today that his country received an "international proposal" to organize a conference that would discuss ways to provide (...)
- Wednesday 7 March 2012
March 6, 2012 (KHARTOUM) – The deputy speaker of the Sudanese national assembly Hagu Gism al-Sid said the parliament will seek to establish "direct dialogue" with the United States Congress in an attempt to correct its distorted image (...)
- Wednesday 15 February 2012
February 14, 2012 (KHARTOUM) – The Obama administration will dispatch an official to Khartoum soon for discussions on bilateral ties, a government source told Sudan Tribune.
The United States (US) official, who was not identified, is (...)
- Thursday 8 March 2012
March 7, 2012 (KHARTOUM) – The Sudanese government on Wednesday made the first suggestion of its kind that the economic conference scheduled for this month in Istanbul, Turkey may be rescheduled.
The conference, organised by Norway, (...)
- Thursday 22 March 2012
March 21, 2012 (KHARTOUM) – The Sudanese president Omer Hassan al-Bashir met today with a delegation from the Sudan Workers Trade Union Federation (SWTUF) and discussed with them ways to improve workers’ conditions amid soaring levels in (...)
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