French President Emmanuel Macron has officially announced the cancellation of Sudan’s $5 billion debt to France.
He made the announcement on Tuesday, May 18, 2021, during the Paris Summit on Africa.
According to Mr Macron during a news conference held on the sidelines of the Summit, “We are in favor of entirely cancelling Sudan’s debt (towards France).”
He told journalists that “We are expecting from other participants … to make a similar effort, which is the needed effort to free Sudan from the debt burden.”
He made the announcement as Sudanese Prime Minister, Abdalla Hamdok, revealed that Sudan’s total debts amount to some $60 billion.
France is hosting a conference of several African leaders.
The leaders are pledging to support Sudan’s transitional government.
Earlier on Monday, May 17, 2021, the French Government offered Sudan a loan worth $1.5 billion (€1.25 billion) to help pay its debt to the International Monetary Fund (IMF).
“Despite the difficulties, considerable progress has been made since the fall of the old regime,” Mr Macron noted in his opening remarks at the Summit.
Sudan has largely been isolated from the rest of the world for over 30 years.
The East African nation was ruled by former President Omar al-Bashir for three decades until he was overthrown after a popular uprising and military coup in 2019.
The summit aims to among other things, seek support for Sudan’s transitional government.
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source https://africanentertainment.com/2021/05/18/macron-announces-cancellation-of-sudans-5-billion-debt-to-france/
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