May 18 2021, 10:04 PM
May 18 2021, 3:11 PM
May 18 2021, 10:04 PM
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(Bloomberg)
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Sudan got assurances billions of dollars of external debt will be canceled after the clearing of its arrears with the International Monetary Fund, a boost for the impoverished African country emerging from decades of dictatorship.
France, Germany and Norway were among countries signaling their readiness to forgo repayment at a Monday conference in Paris that showcased Sudanâs return to the international community. Removing IMF arrears, facilitated by a $1.5 billion bridge loan from France, clears the way for Sudan to get relief from global creditors under the Highly Indebted Poor Countries initiative, or HIPC.