Current Affairs
IMF Provides 1.4 Billion Dollars For Sudan Debt Relief
23 June, 2021
IMF Managing Director Kristalina Georgieva
KHARTOUM (Sudanow) - IMF Managing Director Kristalina Georgieva on Tuesday announced that the International Fund has secured sufficient financing pledges to allow the Fund to provide comprehensive debt relief to Sudan.
A press release by the world financial body, received in Khartoum on Wednesday, stated that 101 IMF member countries have pledged to provide more than SDR 992 million (US$1,415.7 million) in financing. This will enable the clearance of Sudan’s arrears to the IMF, allow for the provision of new Fund financing, and facilitate the delivery of the HIPC Initiative and other debt relief to Sudan. It said this would also help unlock significant amounts of development assistance and create the conditions for higher and more inclusive growth in Sudan.
Ms. Georgieva welcomed this important breakthrough, noting: “Today’s financing milestone marks a historic opportunity for Sudan to move toward comprehensive debt relief from the IMF and the international community. The Fund will continue to support Sudan in its recovery from a long period of instability and economic hardship.”
The release said the Managing Director thanked the IMF’s member countries for their generous support, adding, “I would like to recognize the efforts of our member countries, including many low-income economies, in mobilizing funding for Sudan, as well as the continued cooperation from the World Bank, African Development Bank, Paris Club, European Commission, and other development partners which were critical to the success of this multilateral initiative.”
She argued that this achievement marks a clear recognition by the banks membership of the extraordinary efforts of the people and the government of Sudan to advance economic and financial reforms despite a challenging environment.
“Sudan is now one step closer to reaching the HIPC Decision Point, a landmark which will significantly reduce Sudan’s total debt and allow access to fresh funds and new investments critical to boost growth and fight poverty,” Ms. Georgieva said.
It is to be noted that the IMF Executive Board meeting on Sudan’s arrears clearance to the IMF and the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative Decision Point is scheduled for June 28, 2021.
E N D
MO/AS
Post your comments
Photo of the Week
PortSudan(Sudanow)The editorial team of Sudanow magazine extends warm congratulations to everyone on the occasion of Eid Al-Adha, praying that God will bring it back to everyone with goodness and peace, and that security and stability will prevail across our country. We ask God to bring relief to Sudan, protect its people, and write for us a bright future dominated by security and safety...
MoreNew media
The Poll
Archives
-
09 June, 2025
Hall 102, Faculty of Arts, University of Khartoum, Was Burned By Sinful Hands That Don't now its value.
PortSudan( Sudanow)- It was where Professor Abdalla El-Tayeb stood, presenting his book "A Condolence Among Poets". To whom do we offer condolences now that the memories and rich history of this place have been burned to ashes? Here in Hall 102, Mrs. Cook, an Englishwoman, stood, having lost her fiancé in World War II. She dedicated her life to teaching and grieving, finding solace in Coleridge's masterpiece "The Ancient ...
Sudanow is the longest serving English speaking magazine in the Sudan. It is chartarized by its high quality professional journalism, focusing on political, social, economic, cultural and sport developments in the Sudan. Sudanow provides in depth analysis of these developments by academia, highly ...
MoreRecent tweets
Tweets by Suda_nowFOLLOW Us On Facebook
Contact Us

Address: Sudan News Agency (SUNA) Building, Jamhoria Street, Khartoum - Sudan
Mobile:+249 909220011 / +249 912307547