BERLIN (Pakistan Point News / Sputnik - 18th May, 2021) The German foreign minister said on Monday that Berlin stood ready to clear Sudan's 360 million euro ($437 million) debt to his country to help the African nation on the path toward recovery.
"We advocate for the simple cancellation of Sudan's debt, which is the most significant among the members of the Paris Club. We support the annulment of the nearly $5 billion debt," Macron said at a joint press conference with the head of Sudan's Sovereign Council, Abdel Fattah al-Burhan, and Prime Minister Abdalla Hamdok.
"We have taken responsibility to allow Sudan to recover the debt. France pledges to provide a $1.5 billion loan," Macron said, adding that the process on reducing the debt will expected to be officially launched in late June.
The North African nation took on hefty debt after its military deposed longtime ruler Omar Bashir in April 2019. It owes the IMF over $50 billion and is eligible for debt relief under the heavily indebted poor countries scheme.