Paris Club cancels $14.1B of Sudan's external debt

KHARTOUM, Sudan

The Paris Club has canceled $14.1 billion out of Sudan’s debt, the country’s finance minister said on Friday.

Congratulating the Sudanese people, Gibril Ibrahim said in a statement that Sudan’s remaining debt toward the Paris Club, a group of government creditors, stands at $9.5 billion.

He said Sudan has started the process of paying off all of its debts.

Sudan’s total external debt currently amounts to $56.6 billion and the country has received promises of debt clearance as the International Monetary Fund accepted it as part of the Highly Indebted Poor Countries, the statement added.