Wednesday, December 1, 2021

Coup puts into question Sudan’s debt cancellation, says France

The coup in Sudan casts doubt on the process that would have seen France cancel some $5 billion in debt to the African country, France’s foreign ministry said on Friday, the latest to pressurize military leaders to seize power. Power.

France, Sudan’s second-largest creditor, has been a main actor in backing interim officials since the ouster of former President Omar al-Bashir in 2019, but the civilian transition derailed in October when the military took control .

Speaking to reporters at a daily briefing on Friday, Foreign Ministry spokeswoman Anne-Claire Legendre said Paris has been an “unbreakable” partner for Sudan and the general debt as part of the Heavy Indebted Poor Countries (HIPC) initiative. The schedule for the cancellation was agreed upon at a conference in Paris in May.

“The Paris Club Agreement was reached on 15 July, with each creditor now signing a bilateral agreement with Sudan,” Legendre told reporters, answering questions about whether Paris would review its debt cancellation promise. Had been.

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“It is clear that the military coup of October 25 calls into question this process.”

Sudan is owed about $60 billion, of which 40% – or $23.5 billion – is with the Paris club.

Under the July agreement, the Paris club decided to cancel $14.1 billion of that loan and reschedule the rest.

At that conference, President Emmanuel Macron vowed to annul Khartoum’s nearly $5 billion to France, provided loans to the International Monetary Fund to clear Sudan’s dues, and a side event to boost investment in the country. organised.

State TV said on Friday that in a sign that the junta was consolidating its control, the military had dissolved all state companies and the boards of national agricultural projects.

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This article is republished from – Voa News – Read the – original article.

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