France forgives Sudan all debts

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Photo: SARAH MEYSSONNIER / REUTERS

More than a diplomatic gesture: France announced on Monday that it would cancel all of Sudan's debts.

His government will also provide the African country with a bridging loan of a good 1.2 billion euros, said French President Emmanuel Macron on Monday at an international aid conference in Paris.

The debt relief amounts to "nearly five billion dollars".

The federal government has also announced financial aid in the millions for Sudan.

Federal Foreign Minister Heiko Maas (SPD) said the Federal Republic would forgive Sudan bilateral debts of 360 million euros.

In addition, Berlin takes on up to 90 million euros of the payment obligations of the East African country to the International Monetary Fund (IMF).

Maas emphasized that the political and economic reform process that has begun in Sudan is "arduous, but it offers a historic opportunity for more peace, economic prospects and freedom for the people".

In April 2019, the military overthrew long-time President Omar al-Bashir there after mass protests.

Last August, the government in Khartoum reached a peace agreement with rebel groups.

According to UN figures, around 300,000 people had been killed in the conflict in Darfur since 2003.

French President Macron had invited to the aid conference for Sudan.

"There has been significant progress since the fall of the old government," Macron said.

He called the democratic transition in Sudan "an inspiration" for other African countries.

Macron proclaims a "New Deal" for African countries

France also wants to provide Sudan with a bridging loan of 1.5 billion US dollars (a good 1.2 billion euros) so that the country can settle its arrears with the IMF "as soon as possible", as Finance Minister Bruno Le Maire said said.

According to Prime Minister Abdallah Hamdok, Sudan has outstanding debts of around 60 billion US dollars.

Before leaving for Paris, Maas recalled the Berlin Sudan Conference last June, at which the participants had pledged a total of 1.8 billion US dollars (almost 1.5 million euros) in aid.

French President Macron had previously called for a "New Deal" for African countries.

A summit meeting with around 15 other African countries is planned for Tuesday in the French capital.

The heads of state and government of Angola, Egypt, Mali and Senegal, among others, have been invited.

International financial organizations such as the IMF, the OECD and the World Bank want to join in via video conference.

According to the French presidential office, the aim is to put together a "package for massive support for Africa" ​​in order to "lay the foundations for a new growth cycle on the continent".

The corona pandemic has put a massive damper on the African economy.

The continent is facing the first recession in 25 years this year, according to Paris.

dop / AFP