§10008 Multilateral Assistance

Summary

During Sudan’s transitional period, the Secretary of the Treasury may tell U.S. representatives at international financial institutions to support loans or other uses of those institutions’ funds for Sudan. That support can be for basic human needs, fighting COVID‑19 and its economic effects, or for projects that promote democracy, better governance, or public financial management. Congress says Sudan’s deep economic problems come from decades of theft, poor management, and war. Recovery will require fighting corruption, ending the conflicts in Darfur, South Kordofan, and Blue Nile, and promoting inclusive economic growth. Congress also says COVID‑19 is a serious threat to Sudan’s economy, health, and food supply and risks the shift to civilian rule. If Sudan is removed from the State Sponsors of Terrorism List and the Sovereignty Council is led by a civilian, the Treasury and State Secretaries should work with international lenders and official creditors to seek debt relief through the Heavily Indebted Poor Countries (HIPC) Initiative, including restructuring, rescheduling, or canceling Sudan’s sovereign debt. No later than 3 months after January 1, 2021, and at least once every 6 months during the transition, the Treasury Secretary, with the Secretary of State, must report to Congress on steps the transitional government has taken to improve governance and fiscal transparency. The report must cover seven types of actions, such as putting civilian authority over security services’ finances and assets, making their budgets transparent, identifying and transferring company shareholdings, stopping illicit mineral trade, recovering state assets tied to the former ruling party, tracking offshore funds, and strengthening banking rules to fight money laundering and terrorist financing. Reports must go to these committees: Senate Foreign Relations; Senate Appropriations; House Foreign Affairs; House Appropriations; and House Financial Services.