Paris Club exempts 14.1bn USD of Sudan’s debts: minister

Sudan National Flag Waving on pole against sunny blue sky background. High Definition

Sudan’s Finance Minister Jibril Ibrahim on Friday announced that his country has received relief from its 14.1 billion U.S. dollars debts to Paris Club.

“Sudan’s remaining debts, which stand at 9.5 billion U.S. dollars, have been rescheduled until reaching the completion point in the Heavily Indebted Poor Countries (HIPC) Initiative, with suspension of debt service payments during this period,” said Ibrahim in a statement.

He pledged seeking similar or better results with creditor countries outside the Paris Club.

Sudan is seeking exemption of its foreign debts, which exceeds 56 billion U.S. dollars owed to international financial institutions and other creditors.