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Sudan approved for debt relief, $2 5 billion funding by IMF
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IMF Approves $50B in Debt Relief, $2 4 Billion Funding to Sudan
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Publishing date: Jun 29, 2021 • 6 hours ago • 4 minute read •
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Sudan received approval from the International Monetary Fund on Tuesday for relief on more than $56 billion in debt and new IMF funding of $2.5 billion over three years.
The IMF has accepted the East African country into the Highly Indebted Poor Countries (HIPC) initiative based on the country’s commitment to macroeconomic reforms, it said, meaning Sudan can finally access debt forgiveness and new funds. Sudan is the penultimate candidate for the IMF-World Bank program and by far the largest debt holder.
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