World Bulletin / News Desk
Sudan told the United Nations General Assembly on Saturday that its debts must be canceled and its economy supported as it struggles to recover from losing three-quarters of its critical oil revenue to South Sudan when it seceded a year ago.
The International Monetary Fund this week urged Sudan to meet donors to discuss debt relief and some IMF board members called for "exceptional efforts" from the IMF and the global community to help Sudan reduce its debt of about $40 billion.
"Sudan requires assistance to go through this very sensitive stage towards better horizons. For that we believe that debts must be canceled and its economy supported," Sudanese Foreign Minister Ali Ahmed Karti said.
South Sudan seceded in July 2011. Leaders from both states finally reached a border security deal on Wednesday to restart badly needed oil exports, but failed to solve the other key conflicts left over from when they split.
The pair failed to settle the fate of at least five disputed oil-producing regions along the border. Tensions over the unmarked 1,200-mile (1930-km) common border spilled over into fighting in April, when South Sudan's army briefly occupied the Heglig oilfield, vital to Sudan's economy.
They were also unable to reach a solution for the border region of Abyei, which has symbolic significance to both and is rich in grazing lands. Plans for a referendum have failed over the question of who should participate.
"We have been determined to tackle the reasons for war and strife despite the strong economic and political pressures being brought to bear against my country and unfair sanctions imposed by the United States," Karti said.
Washington still maintains its 1997 embargo on the country. The sanctions restrict U.S. trade and investment with Sudan and block the assets of the Sudanese government.
Dollar strength and waning investor confidence are driving the lira lower
Greece has already received two bailouts totalling 240 billion euros but fellow euro zone member Ireland said last week that it would have to negotiate a third programme.
The Ukraine crisis has tested the loyalties of Bulgaria, a Balkan country with historical ties to Moscow and heavily dependent on Russian energy supplies.
Syria expels three United Nations aid workers hindering aid development in the country
Russia has overcome a "psychological barrier" and is ready to deepen its economic ties with China, Deputy Prime MinisterArkady Dvorkovich said
With Chancellor Angela Merkel's right-left coalition plus the opposition Greens, it was the biggest majority for any euro zone rescue package so far in the 631-seat chamber.
The agreement commits Tanzania, Kenya, Uganda, Rwanda and Burundi to cooperate with the United States in customs issues, ease red tape at borders, reduce customs wait times and harmonize trade standards.
Sri Lankan President Maithripala Sirisena has unnerved China with his re-examination of certain projects that Chinahas invested in, including a $1.5 billion "port city" project in Colombo.
EU energy chief Maros Sefcovic invited Russian Energy Minister Alexander Novak and his Ukrainian counterpart Volodymyr Demchyshyn for talks
Gazprom and Ukrainian state energy firm Naftogaz have accused each other of not sticking to agreements on gas supplies.
The new canal, that will allow two-way traffic of larger ships, is supposed to increase revenues by 2023 to $13 billion.
A day after euro zone finance ministers agreed to a four-month extension of a financial rescue, Finance Minister Yanis Varoufakis gave a frank assessment of Greece's financial position.
The agreement is the culmination of talks that began in September after the government decided its own solutions to its fiscal crisis were failing to convince investors.
Energy union highlights bloc's attempt to seek independency from its main gas supplier - Russia.
Merkel's right-left coalition is set to prevail, despite vocal pockets of resistance on the right and left.
Republicans passed the bill to increase pressure on Obama to approve the pipeline, a move the president said would bypass a State Department process that will determine whether the project is in the U.S. national interest.