IMF provides $ 2.5 billion bridging loan to Sudan for 39 months to ease debt

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WASHINGTON, June 29. (Reuters) – The International Monetary Fund said Tuesday that its executive board approved a 39-month extended credit line for Sudan $ 2.5 billion after the country paid off $ 1.4 billion in debt to the IMF to begin write-off negotiations debt under a large debt agreement. Poor Countries Initiative.

The IMF spokesman said at a press conference that the debt cancellation process, which is expected to take about three years, will ultimately reduce the burden of Sudan’s external debt to about $ 6 billion from the current level of $ 56.6 billion, or about 163%. GDP. (Reporting by David Loder, edited by Rosalba O’Brien)

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