‘STATE OF ECONOMIC EMERGENCY’ DECLARED IN SUDAN

In a press conference attended by the information and justice ministers as well and senior officials of security, police and Rapid Support Forces on Thursday, the Sudanese Finance Minister Heba Mohamed Ali declared “the state of economic emergency and establishment of emergency courts”.
The Sudanese government declared a state of “economic emergency” in the country in an attempt to control a vertiginous fall for the Sudanese pound and the unprecedented inflation in the country. The move comes days after Sudan declared a national emergency for three months and designated the country a natural disaster zone after flooding that has killed dozens of people.
The struggles of the country are attributed to the smuggling and other illicit activities along with manipulation by those opposing the transitional government, as per officials. Despite of repeated efforts to curb the black market in the country for past few years, the devaluation of currency remained intact. On Wednesday, Sudanese online news site Dabanga reported that, the pound reached 240 per US dollar on the parallel market, compared to 117 Sudanese pounds per dollar at the start of March and 154 in mid-June and inflation in Sudan is second only to that of Venezuela, with the headline rate climbing to 143.78 percent in July.
As per officials, Sudan took steps in June to further open up the precious metals trade to private investors, allowing them to handle all exports and taking the business out of state hands, which led to the sell of gold above market price and negatively affecting the exchange rate.
Justice Minister Nasredeen Abdelbari said Sudan is expected to be removed from a United States list of state sponsors of terrorism going back to Bashir’s Islamist government, which will make Sudan technically ineligible for debt relief and financing from the International Monetary Fund and World Bank.

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