{"id":113824,"date":"2021-05-07T16:09:14","date_gmt":"2021-05-07T16:09:14","guid":{"rendered":"https:\/\/fin2me.com\/?p=113824"},"modified":"2021-05-07T16:09:14","modified_gmt":"2021-05-07T16:09:14","slug":"sudan-passes-second-imf-review-in-step-nearer-debt-relief-minister","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/sudan-passes-second-imf-review-in-step-nearer-debt-relief-minister\/","title":{"rendered":"Sudan passes second IMF review in step nearer debt relief &#8211; minister"},"content":{"rendered":"<figcaption>The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS\/Yuri Gripas\/File Photo<\/figcaption><p>CAIRO (Reuters) &#8211; Sudan has passed its second review under the International Monetary Fund\u2019s staff-monitored programme in a step towards debt relief, its finance minister said on Friday.<\/p>\n<p>Clearing the second review paves the way for Sudan to be approved for debt relief under the Highly Indebted Poor Countries (HIPC) process \u201cwhich will hopefully result in a substantial debt relief for (Sudan) as well as new credit lines,\u201d Jibril Ibrahim said on Twitter.<\/p>\n<p>Sudan is expected to reach the \u201cdecision point\u201d for HIPC debt relief in June, at the end of a year-long IMF-monitored economic reform programme and after a conference in Paris later this month to promote investment and debt relief.<\/p>\n<p>The country is seeking to clear at least $50 billion in debt, mostly with bilateral creditors.<\/p>\n<p>It has recently secured bridge loans from donors to clear arrears on debt with the World Bank and the African Development Bank. A French diplomat indicated last month that France could provide funding for Sudan to also clear arrears with the IMF and proceed with HIPC.<\/p>\n<p>Sudan is emerging from decades of economic isolation and sanctions under former leader Omar al-Bashir, who was toppled in 2019 after mass protests triggered by an economic crisis.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/sudan-economy-imf\/update-1-sudan-passes-second-imf-review-in-step-nearer-debt-relief-minister-idUSL1N2MU1CY\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS\/Yuri Gripas\/File PhotoCAIRO (Reuters) &#8211; Sudan has [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":113823,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sudan passes second IMF review in step nearer debt relief - minister - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/sudan-passes-second-imf-review-in-step-nearer-debt-relief-minister\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sudan passes second IMF review in step nearer debt relief - minister - Fin2me\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. 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