Sudan to clear $60 billion debt by July

A photo of Gibril Ibrahim, Minister of Finance in Sudan
Gibril Ibrahim, Minister of Finance in Sudan

Sudan is currently working to repair the damage that decades of mismanagement of funds and seclusion from the global markets have cost the country’s economy.

Gibril Ibrahim, Sudan’s Minister of Finance, announced that the government of Sudan aims at paying off its $60 billion debt to the International Monetary Fund by July, which is considered as the nation’s first core step towards its economic revival.

The Minister of Finance stated that the debt is most likely to be cleared at 70%-90% volume. He went on to say that 7%-10% of the rest of the debt was commercial and will probably not be cleared immediately.

It was not stated if there are any foreign bodies or neighboring countries that are supporting Sudan on its path to economic redemption.

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Business Stance

Business Stance

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

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