Submitted by HannahJubilee on Tue, 06/29/2021 - 16:57
The International Monetary Fund approved a debt relief process for Sudan, according to the country's finance ministry. The Heavily Indebted Poor Countries (HIPC) initiative, a debt relief process created in the early 2000s, will wipe out 85% of Sudan's debt, reducing debt from $50 billion to $8 billion.