Sudan clears final hurdle for debt relief

IMF member countries have agreed to clear Sudan’s arrears to the institution, France’s president said on Monday, removing a final hurdle to the African nation getting wider relief on external debt of at least $50 billion.

Sudan is emerging from decades of economic sanctions and isolation under ousted former President Omar al-Badri.

It had built up huge arrears on its debt, but has made rapid progress towards having much of it forgiven under the IMF and World Bank’s Highly Indebted Poor Countries (HIPC) scheme, which would reopen access to badly needed cheap international financing.