CGD in the News

Debt Risks Crippling Sudan - Minister (Reuters)

September 30, 2011

The Center for Global development was mentioned in a Reuters article on Sudan's debt.

From the Article

Sudan's massive debt risks exacerbating a difficult economic situation as annual debt servicing costs hit about $1 billion following the secession of the south earlier this year, its foreign minister Ali Karti said.

Karti was in Paris to promote his country and the argument for relief on a $38-billion debt pile that remains a bone of contention with the now separate South Sudan.

"We are working also on debt relief with France and others, because debt servicing incurs more than $1 billion annually," Karti told reporters on Thursday evening after a meeting with his French counterpart Alain Juppe.

The world could not simply stand back and watch the economy collapse given that Khartoum had not opposed the country's division, said Karti, who described the economy's woes as "really serious".

Read it here.