Cash-strapped Sudan clears overdue payments to World Bank

Cash-strapped Sudan clears overdue payments to World Bank

CAIRO (AP) “” The Sudanese government said Friday it cleared all of its overdue payments to the World Bank, a move that gives the highly-indebted country access to new types of international financing for the first time in decades.

This development allows Sudan to resume normal relations with the World Bank after nearly 30 years of suspension, according to a statement released by Sudan's Cabinet. The World Bank said that by clearing its debts, Sudan will have access to nearly $2 billion in grants for poverty reduction and sustainable development.

Sudan accumulated more than $60 billion in foreign debt under dictator Omar al-Bashir, who ruled the country until his ouster in 2019. Sudan had been named a pariah state. The country is now ruled by a joint civilian military government.

"This victory belongs to the Sudanese people who have shouldered the burden of the economic reforms, which have been made difficult by the COVID-19 pandemic,“ the Cabinet said in a statement. "It is also a significant achievement for Sudan's Transitional Government as it implements its economic program to realize economic stability, equitable growth, opportunity, and jobs for all Sudanese people.“

Since al-Bashir's ouster, Sudan has been seeking better ties with the West but has