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This week (Tuesday 29), with UK support, Sudan’s $1.4 billion in arrears owed to the International Monetary Fund (IMF) has been cleared, allowing it to access new financing to boost its economic recovery.
Sudan’s clearing of its arrears was supported with £36 million from UK reserves at the IMF.
An additional £148 million one-day loan from the UK, announced by the UK Foreign Secretary Dominic Raab in May, has previously helped Sudan clear its arrears at the African Development Bank.
This major milestone in Sudan’s economic development means the new government can now access billions of dollars of fresh funding from multilateral organisations, to spend on healthcare and education, improving the lives of its people and helping the transition towards democracy.
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UK helps to clear Sudan s debt and support its economic recovery
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