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Economy

Saudi King Salman directs support for Sudan to deal with the IMF debt burden

Published: Updated:

Saudi Arabia’s King Salman bin Abdulaziz has directed support to be provided to Sudan to deal with arrears and reduce the debt burden owed to the International Monetary Fund.

“The Kingdom expressed its support for efforts to reduce Sudan's debt burden, stressing the importance of enhancing investments in it and supporting all sectors that achieve the aspirations of its people,” the Saudi Press Agency said in a report.

Saudi Arabia on Monday announced a grant to help cover Sudan's financing gap with the IMF.

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On behalf of Saudi Crown Prince Mohammed bin Salman, Foreign Minister Prince Faisal bin Farhan chaired the Kingdom's delegation participating at a summit in Paris to promote debt relief and investment in Sudan.

Saudi Minister of Finance Mohammad al-Jadaan and a Saudi delegation that included a number of officials from the ministries of foreign affairs and finance also participated in the meetings in Paris.

“The Foreign Minister affirmed King Salman and the Crown Prince's keenness on the Kingdom's contribution to addressing the arrears and easing the debt burden of the Republic of Sudan, in addition to enhancing Saudi investments in the Republic of Sudan and supporting the Kingdom for all sectors that would achieve the aspirations of the Sudanese people towards further progress, prosperity and development,” read an official statement.