Custodian of the Two Holy Mosques Directs to Support Sudan to Deal with IMF Arrears and Debt Burden

Tuesday 1442/10/6 - 2021/05/18
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Riyadh, May 18, 2021, SPA -- The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has directed to provide USD 20 million grant to cover part of the financing gap of the Republic of Sudan at the International Monetary Fund (IMF). The Kingdom of Saudi Arabia’s initiative aims to deal with the arrears and reduce the debt burden on the Republic of Sudan.
This came during the Kingdom of Saudi Arabia’s speech delivered by Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, who led the Kingdom’s delegation at the International Conference to Support the Sudanese Transition, held today in Paris, in participation of Saudi Minister of Finance Mohammad Al-Jadaan and presence of more than 40 countries.
At the outset of his speech, the Minister of Foreign Affairs conveyed greetings of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, who sincerely wishes all success for the conference. Prince Faisal also conveyed King Salman’s thanks to French President Emmanuel Macron for holding this summit to support of the Republic of Sudan.
“Today, our common goal is to support the transitional phase in Sudan towards a bright and prosperous future. In this regard, the Kingdom of Saudi Arabia announced on April, 13, 2019 its full support for the Sudanese people’s decision with regard to their future and all measures taken in the interest of the Sudanese people. At that time, the Custodian of the Two Holy Mosques directed to provide a package of humanitarian and development aid,” Prince Faisal said.
He pointed out that the Kingdom of Saudi Arabia was among the first states, within the framework of the Friends of Sudan, in supporting this transitional phase in Sudan, adding that the Kingdom has exerted continuous and relentless efforts at the bilateral level in bringing points of view among the Sudanese parties in order to activate Sudan's regional role and preserve its security.
The Minister hailed the roles of the United States of America, the Republic of France, and the United Kingdom for their tireless efforts in supporting Sudan to reach the decision point for the Heavily Indebted Poor Countries (HIPC) Initiative.
Prince Faisal also affirmed the importance that the friendly and brotherly countries support Sudan to reach the decision point in order to benefit from the available resources at the international financial institutions and implement the reforms agreed upon in the IMF program, including economic and organizational reforms to stimulate the private sector investments.
“In a continuation of its efforts over the past decades as a main contributor to supporting development in the developing countries, including the support provided to the Republic of Sudan, the Kingdom of Saudi Arabia will continue its positive and influential role in financing development globally and regionally,” he added.
Prince Faisal concluded his speech by calling upon all countries as well as regional and international financial institutions to respond urgently to Sudan's needs and make rapid progress in dealing with debts in order to enable Sudan to bypass this difficult phase and achieve sustainable prosperity.
04:02 LOCAL TIME 01:02 GMT