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Debts of Sudan Amount to 37.7 Billion US dollars, IMF Agree to Negotiate with Sudan
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May 20, 2010 - 7:42:24 AM
Debts of Sudan Amount to 37.7 Billion US dollars, IMF Agree to Negotiate with Sudan
Khartoum, 20
05.2010 (SUNA) -The State Minister at the Ministry of Finance and National Economy, Dr. Lual Deng, said that the IMF agreed to negotiate with Sudan to settle its indebtness based on a report on the situation of the foreign debt of Sudan till 30 December 2009. Deng described the IMF step as a "serious movement" and "promising start" toward solving the foreign indebt issue in Sudan
The foreign debt of Sudan as till 30 December 2009 was put at 35,687,000.000 US dollars, according to a report prepared by a tripartite committee of the Bank of Sudan, the Ministry of Finance and the International Monetary Fund (IMF)
The minister explained that according to the report the principal debts reached 15,459 million US dollars, and the rest from the interest on arrears amount to 3,821 million US dollars and 16.459 million as debt services
Dr. Lual Deng said in a statement to SUNA following his recent participation in the spring meetings of the IMF and World Bank in Washington that Sudan during the previous 13 years has been working seriously to address its debtedness to the IMF, which recommended adoption of certain financial and monetary policies in accordance with the IMF technical advice regarding the management of the Sudanese economy
The minister, who is in charge of the issue of international cooperation, explained that solving of the foreign debts of Sudan needs adoption of a series of procedures and time, and that it might need at least five years to solve the issue of the indebtedness with the Fund
The IMF and the World Bank are the major international lenders of Sudan whereas tKuwait and Saudi Arabia are the most important bilateral creditors in the group of non-member states of the Paris Club, in addition of Austria and the United States
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