Sudan wins $1. 5 bln loan from Chinese bank
ABU DHABI (Reuters) – Sudan has secured a $1. 5 billion loan from a Chinese bank that was guaranteed by state oil firm China National Petroleum Corp (CNPC), Sudan’s finance minister said on Wednesday, throwing a lifeline to the African country. Sudan has been struggling with an economic crisis since losing three-quarters of its oil production when South Sudan became independent in 2011. Oil was the main revenue source for the budget and for dollars needed to buy basic food imports such as wheat and sugar. . . .
View full post on Yahoo! News – Top Stories
Leave a Reply