Sudan's Attempts To Sell It's Debts Is Premature, Says Economists

29 July 2010 - (Khartoum) – Sudanese economists say that Sudan’s attempt to sell its $ 35 billion foreign debt is premature and not a practical solution to lift the debt burden.

Sudan’s debt is one of the thorny post-referendum issues being discussed between the two partners to the CPA the NCP and the SPLM.

Last week, the governor of Sudan’s Central Bank, Doctor Sabir Mohamed al-Hassan revealed that they have received offers from unspecified parties to buy the country’s debt.

Al-Sahafa Daily Arabic newspaper also quoted al-Hassan as saying that consultations are underway between the Central Bank and finance ministry to review the offers.
An economist and the editor in chief of Elaf Economic Magazine, Doctor Khalid al-Tigani el-Nor, spoke to SRS from Khartoum on Thursday.

[Khalid el-Tigani el-Nor]: “I think that what Doctor Sabir said, should be looked at in the context of the post-referendum arrangements. Now it is one of the issues being discussed, because before the referendum the two partners should resolve the issue of Sudan’s foreign debts, who will be paying it, and it has reached now 36 US billion Dollars. But in any case don’t think this is a practical or possible solution.”

Another economist, Hassan Mansour Hassan Amin, thinks that the statement made by the governor of Sudan’s Central Bank is premature.

[Hassan Mansour Hassan Amin]: “What Doctor Sabir said about buying Sudan’s debts in the first place is premature talk, meaning that the issue of Sudan’s debts is currently been transferred from an economical issue to a political issue. It is still an undetermined issue between the two partners the NCP and the SPLM.”

However GOSS minister of finance said that they are still discussing the issue, stressing that they are not part of this debts.

The GOSS Minister of Finance Deng Athorbei spoke to SRS from Juba on Thursday.

[Deng Athorbei]: “In fact I don’t know, because we are not part of these debts and how it was spend. But we in southern Sudan are discussing with the central government on how to deal with these debts.”

GOSS Minister of Finance Deng Athorbei spoke to SRS from Juba on Thursday.