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Talal Mahmoud------# The specter of bankruptcy and red debt haunts Arab and African countries, including Sudan

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# The specter of bankruptcy and red debt haunts Arab and African countries, including Sudan
On the way of the debt crisis _ Greece and Portugal _ famous, which reached a deterioration peak according to economic data to further economic weakness at the internal and external levels of foreign transactions in terms of payment of financial obligations of debt on the agreed date of the so-called economic (bankruptcy) and It should also be noted that countries are bankrupt when they can not meet their foreign debts or can not obtain funds from third parties to pay for goods and goods. They can also go bankrupt if the state collapses because of losing a war that might expose them to colonization, And may be bankrupt because of the collapse of the existing regime and the emergence of a new regime does not comply with the debt of the former regime - and perhaps the most famous debt crisis and bankruptcy of countries that had been in Greece as a result of a large economic bubble because of raising interest rates that were low occurred The total debt was 240 billion euros, forcing it to hold a referendum on the terms of the European recovery plan for the bankrupt Greece as a result of an economic crisis and a financial recession following austerity measures in return for the bailout plan provided by the European Commission, the European Central Bank and the International Monetary Fund Lee and then the state of Portugal, which lived a sovereign debt crisis between 2011 and 2012, where it suffered debts of 129% of GDP - if the debt exceeded the red lines of the GDP of those countries - and usually begin to worry about the indebtedness of the state when Reaching the red lines at the threshold of 90% of the gross domestic product - which makes the country suffer from the impact of rising debt, which negatively affects the economic performance of the state, which concerns the needs and potential to attract more investment and enhance their productive capacities and update social policies to become less expensive and more Wifadah citizens _ The International Monetary Fund warned in a recent bulletin has been issued _alool May 1, 2018 some Arab and African countries of inaction over the debt looming crisis, calling for the continuation of radical economic reforms and in the forefront of those at risk of bankruptcy States as a result of public debt accumulation _
1 / Lebanon, which announced the Director of the Central Bank of Lebanon _ Riad Salama _ on a plan to issue European bonds worth $ 2 billion to repay its debt, which is one of the largest debt in the world, amounting to 150% of GDP, stressing that Lebanon has the second largest And that there is a Lebanese plan now to buy more gold or sell part of the reserves. Lebanon is classified as one of the most indebted countries in the world. This year, the debt ratio is expected to reach 152% of the GDP according to the International Monetary Fund.
The Minister of Finance, Amr Al-Jarhi, stated that the size of the public debt has increased five times in the last 5 years and will continue to rise during the coming period. He stressed the government's efforts to reduce public debt levels from 108% of GDP during the previous fiscal year. 2016 to 80% by 2020 Egypt's debt rates exceeded 100% of GDP with the liberalization of the exchange rate 16 months ago due to the doubling of the value of external debt after re-evaluation and rapid growth as a result of government expansion in dependence on external loans to close the domestic finance gap and balance control Payments _
Jordan's total public debt reached JD 95.6 billion in January 2018 according to figures published by the Jordanian Ministry of Finance. The total public debt amounted to US $ 69.38 billion, , 90% of Jordan's GDP
Sudan, which ranked fourth in the Arab world in terms of classification, the World Bank confirmed that Sudan is still suffering from external debt pressures amounting to 54% billion dollars, 85% of which are arrears. The list of creditors of Sudan includes multilateral institutions of 15%, Paris Club 37% , In addition to 36% to other parties and 14% to the private sector. The World Bank also revealed in a joint report with the Ministry of Finance on the poverty reduction strategy that foreign debt ratios amounted to 166% of GDP. In exchange for the concession of the South State from its partnership and its share Despite the lifting of US economic sanctions, Sudan is still on the list of state sponsors of terrorism according to the classification of the US State Department, which restricts US aid in the humanitarian relief aspects only without loans and economic development grants as well as investments to fear foreign banks from the scourge to be affected The sword of American fines, as happened to one of the banks that dealt with Iran, which has been on the list of countries sponsoring terrorism despite the lifting of economic sanctions in a similar situation to Sudan now -
5 / Bahrain - In a Bloomberg report, the Kingdom of Bahrain will soon become part of another short list of the tripartite debt club 100% or more of public debt to GDP. According to Standard & Poor's ratings, Bahrain's government compared to GDP jumped to 81% in 2017 compared to 34% for 2012, and the credit rating agency expects to reach 98% by 2020 after Gulf countries failed to market part of the bonds offered by Manama. _ In the international financial markets because of investors' reluctance to buy with increased risk _ and also canceled, Manama, plans to issue conventional bonds due to Investors asked for high interest rates as the cost of insuring Bahrain's debt against default risk rose to 58.2% after falling to 1-2% in May 2017, indicating the risk of default over the next 5 years. Through the reform program adopted in partnership with the International Monetary Fund under the loan agreement 2016, through which Tunisia aims to have public debt at the level of less than 70% of GDP by 2020 compared to 1, 72% expected for the current year 2018_ where the debt The general foreign currency is the largest part of Tunisian debt IMF figures The debt in 2018 is expected to represent about 6, 70% of the total debt as Tunisia suffers from the depletion of foreign exchange reserves and the fluctuation of the local currency against the dollar. The volume of external debt at the end of 2016 reached about 7 26% In comparison to 2010, which did not exceed the threshold of $ 13 billion, which means that it multiplied more than once because of external debt service, which constitutes a strong pressure on the economic situation of Tunisia - Africa was not better than the misery of some Arab countries at a time when the Fund warned International Monetary Fund (IMF) Or more than 40 percent of low-income African countries are currently threatened by a debt crisis, with their average public debt exceeding 50 percent of gross domestic product by the end of 2017. The IMF explained that given the situation, The IMF said that the accumulation and increase of non-performing loans is a threat to Africa's economic recovery compared to growth forecasts of about 4.3 percent in 2018 compared to the previous estimates of 9, 3 % _ View Fund cash that the rate of increase in large non-performing loans, particularly in African countries, intensive use of resources such as _ Angola, Mozambique and Congo _ where the cause of economic activity weak in the low credit quality to meet the maturity of public debt to those African countries _ with greetings @
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