France to cancel $5 billion Sudan debt, says Macron

PARIS, (The Southern African Times) – France will cancel almost $5 billion in debt owed by Sudan to Paris as part of efforts to help the country in its transition to democracy after the ousting of authoritarian leader Omar al-Bashir, President Emmanuel Macron said on Monday.

“We (France) are in favour of an outright cancellation of our debt to Sudan” which amounts to “nearly $5 billion”, Macron said after an international summit on Sudan, saying the country needed to be rid of its “burden” of debt in order to move forwards

Earlier in the day, The French government announced it will lend Sudan $1.5 billion to help the African nation pay off its massive debt to the International Monetary Fund (IMF) as it emerges from decades of authoritarian rule, Finance Minister Bruno Le Maire said.