Egypt to use IMF account to help reduce Sudan’s debt

Egypt announced that it will use its share at the International Monetary Fund to help settle part of Sudan’s outstanding debts, as Cairo sees its stability and security as being correlated with Khartoum’s.

Egypt has announced its participation in the international initiative to help Sudan grow economically by leveraging Cairo’s quota with the International Monetary Fund (IMF) to allow Sudan to pay off some of its outstanding debt.

In a May 17 speech to the Paris Conference to Support the Transition in Sudan, Egyptian President Abdel Fattah al-Sisi said, “Egypt will participate in the debt relief initiative to help Sudan secure relief through the use of Egypt’s share in the International Monetary Fund.”

He also said, “The conference comes at a pivotal stage in the modern history of Sudan to consolidate the gains of the December [2018] revolution, which marked the beginning of a new era, and opened horizons of hope for the future for the brotherly Sudanese people.”

Leave a Reply

Your email address will not be published.

Back to top button