July 17, 2021 (Khartoum) The Sudanese Minister of Finance and Economic Planning, JibrilSaid the Paris Club has agreed to cancel $14 billion owed by Sudan and restructure $9bn. On his Facebook page, the Minister of Finance congratulated the Sudanese on the fact that Sudan had actually obtained a forgiveness of 14.1 billion dollars from the debt of the Paris Club group and Restructuring the rest of the debt, which amounted to 9.5 billion dollars
A deal was reached yesterday with Moulin urging Sudan’s other private and public creditors to grant the country debt relief on the same terms. Sudan became eligible for relief after the International Monetary Fund (IMF) accepted it last month into the Highly Indebted Poor Countries (HIPC) initiative based on a commitment to macroeconomic reforms.
Moulin pointed out that the agreement cancels $14.1 billion outright and reschedules $9.4 billion with grace periods long enough that Sudan does not have to make payments before 2024,
“This significant effort demonstrates the international community’s support to Sudan’s democratic transition and will help Sudan to re-engage with the international financial community, pursue its reform policies and fight poverty,” Moulin said.