Sudan says China has waived $50m loan: What’s in it for Khartoum, Beijing?
Summary
China has canceled $50 million in loans to Sudan during the country’s ongoing civil war, as part of their long-standing relationship based on oil and infrastructure. This relief comes at a time when Sudan is facing a deep economic crisis and limited support from Western countries.Key Facts
- China waived four interest-free loans to Sudan totaling about $50 million.
- Sudan’s external debt before the war was over $56 billion and has likely grown since.
- The war in Sudan started three years ago and has caused major economic and social problems.
- More than 1.5 million people have died, and about 14 million have been displaced by the conflict.
- Less than 14% of Sudan’s health facilities are still working, and many jobs have disappeared.
- The Sudanese pound’s value fell drastically, from about 600 per US dollar before the war to over 5,000.
- China has been Africa’s biggest trading partner for 17 years and often forgives small loans to African countries.
- Western countries have largely held back financial support or imposed sanctions on Sudan due to the war.
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