Sudan Clears Arrears, Gains Access to $2 Billion in New World Bank Financing
The Republic of Sudan has cleared its arrears to the International Development Association (IDA), enabling its full re-engagement with the World Bank Group after nearly three decades, and paving the way for the country to access nearly $2 billion in IDA grants for poverty reduction and sustainable economic recovery. By clearing its arrears, Sudan has also completed a key step for receiving comprehensive external debt relief under the Heavily Indebted Poor Country (HIPC) Initiative.
“This is a breakthrough at a time when Sudan needs the world’s help to support its development progress. The steps taken so far, including arrears clearance and exchange rate unification, will put Sudan on the path to substantial debt relief, economic revival, and inclusive development,” said World Bank Group President David Malpass. “I am grateful to the United States Government for its generosity in facilitating the arrears clearance process. I congratulate Sudan’s government for its commitment to reform, and look forward to opportunities for greater World Bank Group support to the Sudanese people.”
IDA is the World Bank’s fund for the poorest countries. The payment of these arrears was made possible through a $1.15 billion bridge loan from the United States government. IDA is supporting Sudan’s reform agenda through a Reengagement and Reform Development Policy operation. The reforms aim to support Sudan’s economic growth and poverty reduction program, to make the Sudanese economy more competitive, enhance transparency, increase investments, create jobs and strengthen social protection.
“With the clearance of these arrears we look forward to securing financing from the World Bank Group and other multilateral institutions to strengthen our economy and reach all corners of Sudan with transformative development projects,” said Dr. Gibril Ibrahim, Sudan’s Minister of Finance and Economic Planning. “We are thankful to the US Government for facilitating this clearance process, which also supports our drive towards more comprehensive debt relief.”
After arrears clearance, Sudan will have unencumbered access to normal financing from the World Bank Group, including financing for projects under IDA, private sector debt and equity investments through the International Finance Corporation (IFC), and political risk insurance provided by the Multilateral Investment Guarantee Agency (MIGA) to facilitate foreign direct investments.
“Today, Sudan has a once-in-a-generation window of opportunity to put itself on a path of economic and social renewal,” said Hafez Ghanem, World Bank Vice President for Eastern and Southern Africa. “I thank our international partners who have worked with us to bring Sudan to this important stage and look forward to opportunities for greater World Bank Group support for the Sudanese people.”
To maximize support to Sudan, the World Bank has been providing pre-arrears clearance grants that total $410 million to mitigate the impact of economic reforms through the Sudan Family Support Program, and to facilitate Sudan’s reengagement. This financing has been matched by $410 million of financing from other donors. The program aims to deliver cash transfers up to 80% of Sudanese families, or approximately 32 million citizens, to mitigate the impact of short-term economic shocks. The Program was launched on February 24, 2021.
The International Development Association (IDA) is one of the largest sources of funding for fighting extreme poverty in the world’s poorest countries. IDA provides zero- or low-interest loans and grants to countries for projects and programs that boost economic growth, build resilience, and improve the lives of poor people around the world. Since 1960, IDA has provided about $422 billion for investments in 114 countries. As an institution of the World Bank Group, IDA combines global expertise with an exclusive focus on reducing poverty and boosting prosperity in the world’s poorest countries. Learn more online: IDA.worldbank.org. #IDAworks
The Sudan Family Support Program (SFSP) is supported by several development partners through the Sudan Transition and Recovery Support (STARS) Multi-Donor Trust Fund, which includes Canada, European Union, Finland, France, Germany, Ireland, Italy, Kingdom of Saudi Arabia, Netherlands, Norway, State and Peace Building Trust Fund, Sweden and United Kingdom. Together these donors are matching the support provided by the World Bank’s pre-arrears clearance grants to bring total support for the SFSP to $820 million.
“Global Times”: China-Russia cooperation is broader than what US-led West can envision
On the afternoon of May 24, Chinese President Xi Jinping met with Prime Minister of the Russian Federation Mikhail Mishustin, who was on an official visit to China, at the Great Hall of the People in Beijing.
Mishustin also held talks with Chinese Premier Li Qiang on the same day. China and Russia signed a series of bilateral agreements on service trade cooperation, sports, patents, and Russian millet exports to China, which shows significant results of Mishustin’s first visit to China since taking office as Russian Prime Minister. The increase in quality of China-Russia economic and trade cooperation, coupled with a full tank of oil, will drive them toward a farther and broader future, notes ‘Global Times’ in an editorial.
The size and level of the Russian team and the number of entrepreneurs accompanying Mishustin is rare in recent years. The visit mainly aimed at implementing cooperation projects and further expanding economic cooperation.
In March this year, President Xi made a successful state visit to Russia and outlined the blueprint for the development of China-Russia relations and cooperation in various fields with President Vladimir Putin. This visit by Mishustin to China is promoting the implementation of the blueprint, and with the joint efforts of both China and Russia, it will become a roadmap and construction plan, and eventually be built into a beautiful reality.
Some past problems have also been solved, and blockages and bottlenecks have been gradually cleared. Of course, the road must be taken step by step, and the all-round cooperation between China and Russia is steadily advancing.
This is the essence of the new type of major-country relationship, and we strongly suggest that Washington take it seriously. Because Washington’s narrow-mindedness cannot accommodate China or Russia, making even the vast Pacific Ocean seem cramped.
Western media, whose minds are filled with confrontation, become nervous at the sight of normal cooperation between China and Russia. They either advocate for China and Russia to “join forces to resist the West” or stir up the old tune of “Russia is dependent on China” to provoke China-Russia relations. Is it possible for the US to contain and suppress China, isolate Russia in all respects, and try to isolate China and Russia from each other as well?
The root of this divided attitude in the US lies in its uncontrollable hegemonic impulses and the fear of the so-called “China-Russia alliance,” which is considered the US’ greatest geopolitical nightmare. These two factors create an internal conflict and psychological strain that the US cannot resolve. The tense atmosphere over the Asia-Pacific region is essentially an external manifestation of Washington’s geopolitical anxieties. Discussing global affairs in front of the world map in their offices, armchair strategists in Washington can only perceive threats and adversaries. Through their meddling, they bring about a self-fulfilling prophecy, pushing countries that could have been potential partners to the opposite side of the US and creating the most severe strategic risks of the era.
We often emphasize that the cooperation between China and Russia is neither directed against third parties nor subject to third-party interference or coercion. This principle guides China’s interactions not only with Russia but also with all countries, including those from Europe, the Middle East, and neighboring regions. It stands in stark contrast to the practices of hegemonism: one emphasizes “non-targeting” and “non-interference and non-coercion,” while the other is precisely engaged in “targeting,” “interference,” and “coercion” worldwide. The former has created astonishing miracles of peace and development, while the latter has left countless scars and conflicts.
The resilience of China-Russia cooperation against interference has significantly strengthened, and the noise generated by the US and Western countries serves as a reverse motivation for us to continue moving forward.
Just as the famous Tang Dynasty poem quoted by Mishustin during his visit to China goes, “You will enjoy a grander sight, if you climb to a greater height,” quotes “Global Times”.
Newsweek: “Putin scores a win in Turkey’s election”
Russian President Vladimir Putin secured a victory in Turkey’s presidential election results on Sunday, writes ‘Newsweek’.
Turkish President Recep Tayyip Erdoğan appeared to beat back a challenge from Kemal Kilicdaroglu, the head of the center-left Republican People’s Party (CHP), winning his third five-year term since taking office in 2014. Erdoğan claimed victory on Sunday, telling supporters in a speech, “I thank each member of our nation for entrusting me with the responsibility to govern this country once again for the upcoming five years,” the Associated Press reported.
He ultimately prevailed by roughly 5 percentage points, according to unofficial data from state-run Anadolu Agency. Turkey’s election has been defined by high voter turnout, but has also led to questions about the fairness of Turkey’s electoral system.
Erdoğan’s victory is viewed as good news for Putin, whose relations with many world leaders grew strained after he launched the invasion of Ukraine last February. Many governments viewed the “special military operation” as lacking justification and a violation of international norms, leading to swift backlash and economic sanctions against Moscow.
Turkey, however, has taken an important role in the conflict, often serving as a mediator between Kyiv and Moscow. Erdoğan himself has walked a fine line between support for Ukraine while also maintaining close diplomatic relations with Russia. Both countries lie along the Black Sea, so maintaining strong economic ties has remained a priority for both governments.
Erdoğan’s victory likely guarantees a continuation of the status quo.
Notably, Turkey’s actions in the North Atlantic Treaty Organization (NATO) have aligned with the interests of Russia. Turkey has previously blocked bids from Sweden and Finland to join NATO, which would bring the alliance to Putin’s doorstep. The Russian leader has also opposed the expansion of NATO, an issue that has sparked tensions with the West.
Putin congratulated Erdoğan on his victory, writing in a statement that he appreciates the Turkish president’s “personal contribution to strengthening friendly Russian-Turkish relations, mutually beneficial cooperation in various areas.”
“Winning the election was a natural result of your selfless work as head of the Republic of Turkey, evidence of the Turkish people’s support for your efforts to strengthen the state sovereignty and the pursuit of an independent, independent foreign policy,” the Russian leader wrote.
Erdoğan has previously touted his relationship with Putin during his reelection bid.
“We are not at a point where we would impose sanctions on Russia like the West have done. We are not bound by the West’s sanctions,” he told CNN earlier this month. “We are a strong state and we have a positive relationship with Russia.”
Larry Johnson: The aftermath of Bakhmut and why the CIA is in trouble
The West is desperate to avoid having any meaningful discussion or review of the Battle of Bakhmut because it was such a massive loss. Think about it — a small “private” paramilitary force backed by former Chef with no military experience, forced Ukraine’s NATO-trained and supplied Army to retreat, notes Larry C. Johnson, a veteran of the CIA and the State Department’s Office of Counter Terrorism.
This is a very important point. Conventional military doctrine stipulates that an army attacking an entrenched force will need at least three times more soldiers than the defending force. Looks like Russia is very unconventional.
The Wagner Group’s 50,000 fighters defeated a Ukrainian force that employed over 120,000 troops, inflicting 70% casualties on the Ukrainians. Russia is writing new chapters for military academies and war colleges on how to attack and defeat a numerically superior force entrenched in fortifications.
Russia was not fighting Afghan shepherds or Iraqi tribesmen armed with AK-47s. It faced off with a NATO proxy force, equipped with modern weaponry, and beat it.
…Even more, I chatted with a retired CIA buddy who filled me in on the personnel disaster that is transforming the CIA into a fully woke institution. Thirty years ago an aspiring employee had to pass a polygraph and had to be drug free. Prior use of marijuana or other recreational drugs could be a show stopper. That was then. Now?
The CIA only asks if the applicant has smoked pot or taken other illicit drugs in the year prior to applying to the Agency. I would not be surprised to learn that once a former drug user is brought on board that there is no obstacle for him or her to continue to indulge the guilty pleasure of getting buzzed (hopefully while not at work).
More disturbing is the current hiring practice — in a recent class for new analysts, 92% of the new hires came from one State. If you guessed Alabama or Virginia you would be wrong. 92% of the analysts hail from one of the most liberal states in the United States. The Agency hiring standard is welcoming the Woke crowd and eschewing men and women who profess traditional values. If you hold Conservative values you need not apply. You probably will not be hired.
I have written previously about the pressure CIA managers face when they write the yearly evaluation on their employees, which plays a key role in determining who gets promoted. If an employee is a minority or openly homosexual or transgender and does not get promoted the manager is required to write an explanation why he or she did not promote said person.
Guess what happens? People get promoted because of their social justice status rather than the quality of their work. Is it any wonder that the quality of the CIA analytical product is succumbing to political pressure, writes Larry C. Johnson.
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