France to cancel $5 billion Sudan debt

France will cancel almost $5 billion in debt owed by Sudan to Paris as part of efforts to help the country in its transition to democracy after the ousting of authoritarian leader Omar al-Bashir, President Emmanuel Macron said on Monday.
“We are in favour of an outright cancellation of our debt to Sudan which amounts to nearly $5 billion,” Macron said after an international summit on Sudan, adding that the country needed to be rid of its “burden of debt in order to move forward.”
Meanwhile, the French government had earlier announced it will lend Sudan $1.5 billion to help pay off its massive debt to the International Monetary Fund (IMF), according to Finance Minister Bruno Le Maire.

Edited by Olajumoke Adeleke