Bashir Ouster Rekindles Interest In Long-Defaulted Sudan Loans

In the hazy world of distressed debt trading, the fall of Sudan’s autocratic ruler of 30 years, Omar al-Bashir, has sparked fresh interest among traders and holders of the country’s long-defaulted debt, Reuters reported. Following weeks of demonstrations kindled by soaring food costs, high unemployment and increasing repression, 75-year-old Bashir was overthrown on Thursday by the military, three decades after himself seizing power in a coup. The newly ruling military council on Friday promised a transition to an elected civilian government. Frozen for the best part of four decades, Sudan’s debt is part of a highly opaque market of legacy debts of countries isolated from the rest of the international community, such as pre-Castro Cuban debt or loans issued by North Korea. Read more