Ambitious Sudan aims to cut external debt by 90 per cent

Mena, Wednesday 4 May 2011

Sudanese minister of finance is in Washington to discuss his country's economic burden

Sudan is pushing for the waiving of 90 per cent of its external debt, according to the African nation’s finance minister Aly Mahmoud.

Mahmoud has recently attended meetings with the IMF and the World Bank in Washington, aiming to reduce his country’s economic burden.

A committee headed by the World Bank was formed in October 2010 to assess the feasibility of waiving Sudan’s financial obligations. A report with the committee’s findings was tendered to the round table which includes Sudan, the United States, France, Canada, Egypt and the EU.

Mahmoud explained that further policy shifts are needed to conclude the remaining political and technical requirements specified by Sudan’s debtors.

Mahmoud also announced that the British minister of international development and a representative of American AID will visit Sudan in the coming two days to discuss the debt issue.

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