France lends $ 1.5 billion loan to Sudan to pay its dues with IMF

France loaned Sudan $ 1.5 billion to help it settle its outstanding debt with the IMF. Khartoum had already secured a $ 425 million loan funded by Sweden, UK and Ireland.

Economic Minister Bruno Le Mayer announced on Monday that France, steeped in huge debt to Sudan and engaged in a democratic transition, would help settle its debt arrears with the IMF by lending $ 1.5 billion.

The minister said France would work to “get rid of Sudan from its debt burden as soon as possible”, adding that President Emanuel Macron would confirm this commitment at a bilateral conference to be held later today, a day before a summit. . Revival of the economy in Africa.

President Emanuel Macron will confirm this financial commitment from France on the occasion, the minister said while speaking at the France-Sudan Business Forum organized by the French employer organization Medef in the presence of Sudanese Prime Minister Abdullah Hamadok.

Two years after the revolution in Sudan, Abdallah Hamdok arrives in Paris to try to erase the country’s $ 60 billion foreign debt, which was once deported by the international community.

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This veteran economist, passed by the United Nations, Abdullah Hamadok came to power after the fall of former President Omar al-Bashir, was sacked after thirty years of a challenging regime marked by armed conflicts, a bloodless economy and heavy international sanctions. The Hamadok government has worked for two years to restore the country’s economy and reestablish Khartoum into the international arena.

Abdullah Hamdok told AFP, “We have already paid the dues of the World Bank and the African Development Bank. In Paris, we will deal with our dues with the International Monetary Fund.”

Khartoum announced on 5 May that it had obtained a $ 425 million loan financed by Sweden, the United Kingdom and Ireland to settle its arrears with ADB. His debt to the World Bank was repaid with US $ 1.15 billion.

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Abdullah Hamadok should also talk of “debt reduction with the Paris Club”, with Sudan’s “biggest creditor” with around 38% of its $ 60 billion foreign debt.

During this conference, which will include Emmanuel Macron and representatives of the World Bank and IMF, Abdullah Hamadok also intends to attract foreign funds for investment possibilities “particularly in the areas of energy, infrastructure, agriculture and telecommunications .

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