* Sudan’s debt burden unusually large * Country stuck in deep economic crisis * Government struggling to finance imports * Prime minister hails ‘big day’ (Recasts with $2.5 billion in new funding) By Nafisa Eltahir, Karin Strohecker and David Lawder June 29 (Reuters) – Sudan received approval from the International Monetary Fund on Tuesday for…
WASHINGTON, June 29, 2021The Executive Boards of the World Bank’s International Development Association (IDA) and the International Monetary Fund (IMF) have determined that Sudan has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. Sudan is the 38thcountry to reach this milestone, known as the HIPC…
Consolidating your debt can be a good way to lower costs and reach your financial goals If you’re trying to get out of debt, a debt consolidation loan is one strategy to consider. Debt consolidation is when you combine more than one debt into a single debt. In addition to a debt consolidation loan, some…
Motorcyclists queue-up for fuel at a petrol station in Sudan’s capital Khartoum on June 10, 2021. Sudan has ended fuel subsidies as part of an IMF-backed reform programme, helping it secure a $2.5 bn loan from the financial institution The IMF on Tuesday approved a $2.5 billion loan for Sudan, and with the World Bank…
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…
Cabinet backs debt relief extension State-owned firms to help until year-end People follow social distancing while queuing at a Government Savings Bank branch in a shopping mall.(Photo: Varuth Hirunyatheb) The cabinet on Tuesday approved seven state-owned financial institutions extending debt relief measures for their customers for another six months to help ease the impact of…
29/06/2021 Thousands more people will be able to get out of problem debt as a result of changes coming into force today. Debt Relief Orders (DROs) can now be used if you owe a maximum of 30,000, up from the previous limit of 20,000. DROs are aimed at people with relatively low levels of unmanageable…
Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Find Out If You Qualify For Debt Relief Free, No-commitment Estimate If youre struggling to manage your debts, having trouble making payments on time or considering declaring bankruptcy, you…
Power-generating windmill turbines are pictured in Suzlon wind farm at Sanodar village, west of the Indian city of Ahmedabad, September 8, 2009. REUTERS/Amit Dave KARACHI/LONDON, June 28 (Reuters) – The soothing calm and palpable enthusiasm in debt markets is deceiving. Developing and emerging economies, which suffered a large-scale withdrawal of international capital at the outbreak…
Smoke comes out of an electric plant on the shore of the polluted River Plate in Buenos Aires, Argentina, June 5, 2017. Picture taken on June 5, 2017. REUTERS/Marcos Brindicci/File Photo So far debt relief focused on poorest of 72 nations at risk G20 urged to include middle-income countries in debt relief New bonds would…