[Reuters]Sudan is seeking relief on more than $50 billion (Sh5.35 trillion) in external debt, with multilateral and bilateral creditors meeting in Paris in an effort to push the process forward. Sudan’s debt totals at least Sh5.35 trillion as of the end of 2019, according to the International Monetary Fund (IMF). An estimated $19 billion (Sh2.03 trillion) is owed to Paris Club creditors, of whom France, Austria, and the US are the largest. Finally, Sudan holds what an IMF official says is an unusually high amount of debt to commercial lenders, estimated at almost $6 billion (Sh642 billion). Under the programme, all Sudan’s creditors will agree to restructure and forgive the debt.

Source: Standard Digital May 19, 2021 12:40 UTC