The IMF on Tuesday approved a $2.5 billion loan for Sudan, and with the World Bank sealed a landmark deal that unlocks nearly $50 billion in debt relief for the impoverished African nation.
The announcement came after the International Monetary Fund finalized an agreement with 101 donor countries allowing Sudan to clear roughly $1.4 billion in arrears to the Washington-based lender — the key hurdle to allow access to fresh aid.
“We congratulate the Sudanese government and people for their commendable hard work and progress toward this remarkable milestone,” IMF chief Kristalina Georgieva and World Bank President David Malpass said in a joint statement.
Payment of the arrears is the “decision point” that allows access to debt relief un…
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