A rapid decline in the Sudanese pound and economic concerns

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The price of one dollar reached 490 pounds at midday, amid great demand from unknown parties.

A trader in the Arab market area in Khartoum told Sky News Arabia that there are parties requesting large quantities at any price, which led to a further deterioration in the value of the pound, in light of the noticeable shortage in the supply of the dollar and other currencies.

The Sudanese currency has witnessed relative stability during the past few months, due to the optimism that prevailed in the aftermath Paris Conference In May 2021, according to which it took place Sudan On financing pledges and forgiveness of more than 23 billion dollars of its debts amounting to about 64 billion dollars.

But the international financial institutions and the countries concerned with those debts and financing suspended their commitments in the wake of the measures taken by the army chief, Abdel Fattah Al-Burhan on the twenty-fifth of October 2021.

The Sudanese economy has lost about 50 percent of its revenues during the past three months, and most markets and production and service facilities have been paralyzed, affected by the cessation of foreign aid.

The United States suspended $700 million in aid; The World Bank also suspended its aid, which includes credit lines of more than 3 billion dollars, and France announced the suspension of procedures for exempting about 5 billion dollars of its debts on Sudan.

At the end of the year 2020; The government of resigned Prime Minister Abdullah Hamdok succeeded in lifting the sanctions that surrounded the country’s economy for 27 years and lost about $700 billion due to the actions of the ousted regime of Omar al-Bashir, who ruled the country for 30 years before being overthrown by a popular revolution in April 2019.





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