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  • As Sudan emerges from decades of international isolation, it's trying to overcome a crippling economic crisis and access debt relief.

  • On Sunday, its central bank sharply devalued the currency, announcing a new regime to unify official and black market exchange rates.

  • The changes a key reform demanded by foreign donors and the International Monetary Fund.

  • But it's being delayed for months as shortages of basic goods and rapid inflation complicated things.

  • The central bank will set a daily indicative rate.

  • Banks and exchange bureaus are required to trade within five percent above or below that rate.

  • The central bank's governor told reporters that authorities would not control the rate, though Finance Minister Gibril Ibrahim said unspecified foreign funds were on their way to Sudan and the central bank could intervene if needed.

  • Things decision is our decision, Ibrahim said.

  • Way decided that our economy is at a situation that cannot be fixed without taking this decision.

  • Officials said steps have been taken to streamline imports of strategic commodities on dlim!

  • It imports of non essential goods ahead of the devaluation.

As Sudan emerges from decades of international isolation, it's trying to overcome a crippling economic crisis and access debt relief.

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Sudan devalues currency to get debt relief

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    林宜悉 posted on 2021/02/23
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