Motazz Moussa, the Sudanese Prime Minister and Minister of Finance revealed the approval of the Kuwaiti and Saudi funds to reschedule Sudan's debts for 40 years, saying that the external debt will reach 47.5 billion dollars in 2017.
Moussa pointed out that "Sudan's resort to foreign loans aims to expand the development of the country, not to fill the budget deficit and the current disbursement of the year," adding that "a number of Arab funds expressed their willingness to contribute to the country's budget for 2019."
The government's debt, according to the Central Bank of Sudan, was 151.9 billion pounds (about 3.2 billion dollars) by the end of 2017.
Moussa said: "The move by the Saudi and Kuwaiti funds to pay their debts to Sudan is an important step in supporting the economic reform process and demonstrates the goodwill of these countries towards helping Sudan to overcome its economic crises and an important step to alleviate Sudan's external debt."
Source (Al-Sharq Al-Awsat newspaper, Edited)
