Paris Club suspends Sudan’s debt relief process as Khartoum seeks Arab funds ...Sudan

June 17, 2022 (KHARTOUM) – Paris Club countries decided to suspend Sudan’s debt removal process as the finance minister said they seek to attract Arab financial institutions to invest in Sudan. On 15 July 2021, the Paris Club signed a multilateral agreement with Sudan providing to write off $14.1 billion of $23.5 billion in debt, most of which is composed of arrears and late interests. The remaining $9.4 billion would be cancelled within after 6-year grace period if Sudan implements the desired reforms. However, in its annual report for 2021 released on June 15, the 16 sovereign creditors announced the suspension of the cancellation process as a result of the military coup d’état of October

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