SUDAN WATCH: Sudan qualifies for debt relief but no relief has come - Bank of Sudan chief sees 2007 growth up to 13 pct

Sunday, January 14, 2007

Sudan qualifies for debt relief but no relief has come - Bank of Sudan chief sees 2007 growth up to 13 pct

As from Wednesday the Sudanese pound will begin to replace the dinar, at a rate of 1 pound to 100 dinar. Therefore, $1 = 201 Sudanese dinar = approx 2 Sudanese pounds. See Reuters report Jan 10 2007 via ST - and this excerpt about Sudan being denied debt relief:
The governor said a huge drawback to Sudan's growth was the external debt of around $27 billion.

Sudan has met all the IMF and World Bank requirements to qualify for debt relief as many developing countries have, but for political reasons no relief has come.

Almost 50 percent of Sudan's external debt is accumulated interest or penalties and 90-95 percent of it is overdue.

Ongoing violence in Sudan's western Darfur region and U.S. sanctions are seen as reasons why it has not been given debt relief.

"The debt size is actually depriving us from getting access to international financial markets ... we are completely deprived of any concessional resources ...either bilateral or from multilateral development institutions," Hassan said. ($1 - 201 Sudanese dinar)
If, like other countries, Sudan qualifies for debt relief, it ought to receive what is fair. I might have scoffed at that a few years ago but not now, not since I saw SLM-Nur walking away from Darfur's Peace Agreement.

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