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SUDAN

Act II of debt reduction to play out in Paris next week

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“Debt diplomacy”

AFRICA

Debt diplomacy

Because the fight to contain it has involved the use of public funds, the Covid-19 pandemic has led to an explosion of debt throughout Africa, forcing countries to seek a moratorium from the G20 and bring in consultants to help them negotiate with their sovereign, private sector and institutional creditors. In the West, the growth of African countries' debt has led to fierce competition between private and public sector creditors to obtain repayment of their debts. China is also involved but has shown little inclination so far to reschedule African countries' debts.

Late last month Sudan returned the IMF's and the World Bank's fold, winning an initial $2.4bn loan as well as integration into the HIPC debt reduction initiative. Next week it is due negotiate a mammoth debt write-off package in the French capital. [...] (295 words)

Issue dated 07/07/2021 Reading time 2 minutes

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Diplomacy

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SUDAN
African Development Bank
IMF
Paris Club
Schwan Badirou Gafari
World Bank

The five themes of the Africa-France summit

The New Africa-France Summit will be held on 8 October at the Sud de France Arena in Pérols, near the southern French city of Montpellier, in the presence of Emmanuel Macron

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SUDAN UNITED STATES Business 26/07/2021

USAID gets off to inauspicious start in tackling Sudan's debt

With the United States, France and the United Kingdom all vying to become the partner of choice of the new regime in Sudan, the American development agency USAID, which was to select and finance an advisory bank to assist Sudan in restructuring its debt, has fluffed its lines and the tender call currently remains in limbo.

SAUDI ARABIA SUDAN Business Diplomacy 15/07/2021

Riyad looks to set up shop in Khartoum

Saudi Arabia is insistently courting Prime Minister Abdallah Hamdok's government for its neighbour's arable land.

Le Forum saoudien d'investissement au Soudan qui s'est déroulé à Riyad du 5 au 9 juillet.

SUDAN Mining 13/07/2021

Gold boom brings back the miners

London-listed Pan African Resources, which already operates three gold mines in South Africa, has decided to turn to Sudan, a country rich in the yellow metal and now open to foreign investors. Companies from China, Iraq, and Armenia have also obtained permits from the authorities.

Sudanese Prime Minister Abdalla Hamdok at the Sudan Creditors' Summit in Paris on 17 May 2021. © Sarah Meyssonnier/SAM/SAA/Reuters

Spotlight

SUDAN Diplomacy 27/05/2021

Hamdok's difficult debt relief conversation with the Gulf

Germany and France may be happy to write off virtually all of Sudan's debts, but the Gulf states are asking for something in return before they will renegotiate.

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Paris conference provided golden opportunity for Orca Gold

As the Sudanese economy opens up, the Canadian junior will be able to move forward with its Block 14 gold project.

Spotlight

SUDAN Finance Business 21/05/2021

Hamdok turns to advisory banks for major financial sector overhaul

Sudan's next major undertaking will be the reform of its financial system. Several international banks are on hand to advise the government in the task.

Spotlight

SUDAN Business 06/05/2021

Paris conference gives Hamdok two days to win over creditors

Sudan's top lenders are due in the French capital on 17 May to decide whether to relieve Khartoum's debt.

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African Development Bank
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Act II of debt reduction to play out in Paris next week

Debt diplomacy

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The five themes of the Africa-France summit

USAID gets off to inauspicious start in tackling Sudan's debt

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Paris conference gives Hamdok two days to win over creditors

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Act II of debt reduction to play out in Paris next week

Debt diplomacy

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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create a free account

Set up email notifications for these topics

The five themes of the Africa-France summit

USAID gets off to inauspicious start in tackling Sudan's debt

Riyad looks to set up shop in Khartoum

Gold boom brings back the miners

Hamdok's difficult debt relief conversation with the Gulf

Paris conference provided golden opportunity for Orca Gold

Hamdok turns to advisory banks for major financial sector overhaul

Paris conference gives Hamdok two days to win over creditors

Set up email notifications for these topics

First visit

Contacts

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Follow us

A website produced by

Indigo Publications also publishes: