The UN has expressed its support to Paris International Conference for Sudan’s debts relief and invest ment “We have a responsibility to help Sudan consolidate its democratic transition. Rebuild its economy. And deliver sustainable peace and development for all its diverse society”, he said in a video message.
The conference, organized by French President Emmanuel Macron, aimed to encourage private investors to return to Sudan as it continues to emerge from three decades of isolation and rebuild its shattered economy.
Political transition and debt relief
Sudan’s ongoing transition to democracy began following months of street protests that led to the April 2019 overthrow of former President, Omar Al-Bashir, who had ruled since seizing power in a military coup in 1989.
The country is also seeking support to clear its estimated $50 billion external debt, which includes some $5.6 billion owed to the International Monetary Fund (IMF), the World Bank and the African Development Bank.
France announced on Monday that it will grant Sudan a $1.5 billion loan to pay off its arrears to the IMF, thus opening the door to wider relief under the Fund’s Highly Indebted Poor Countries (HIPC) initiative.
The United Kingdom and the United States had earlier helped clear arrears with the other development banks
