LONDON - In the hazy world of distressed debt trading, the fall of Sudan’s autocratic ruler of 30 years, Omar al-Bashir, has sparked fresh interest among traders and holders of the country’s long-defaulted debt.
Apart from defaulting on payments from the early 1980s onwards, Sudan was also subject to U.S. sanctions linked to the conflict in Darfur for nearly two decades until 2017. Much of Sudan’s distressed debt trading centers around a state-guaranteed loan issued in 1981 as part of a debt restructuring agreement with a principal of 1.64 billion Swiss franc . Shortly after, the Sudanese government defaulted again on its obligations on the loan.
Apart from Somalia, Sudan is now the only country in the world with arrears to the International Monetary Fund , accounting for more than 80 percent of money overdue to the multilateral lender. The IMF stated in its December 2017 report that Sudan was eligible for debt relief under the Heavily Indebted Poor Countries plan - an IMF and World Bank initiative launched in 1996 to help poor countries struggling with external debt obtain debt relief.
The consequences of forcing yourself against the wishes of the people, is disastrous your name suppose to be written in gold, now is going to be with charcoal that rag and water used to erase it, nobody will notice the only thing left on the wall is dirty. Blame yourself ex .
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