Wednesday, February 24, 2021

Floating the Sudanese pound … government promises surrounded by fears (video toss) – Erm News


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An unprecedented step in Sudan … a decision that is the boldest economically in the country since the overthrow of the regime of ousted President Omar al-Bashir … The government decides to float the exchange of the national currency, in a step

Source: Erm News

An unprecedented step in Sudan … a decision that is the boldest economically in the country since the overthrow of the regime of ousted President Omar Al-Bashir …

The government decides to float the exchange of the national currency, in a step it said would open Sudan’s door wide open to foreign investment, and would achieve other goals, the most important of which is the elimination of the black market and the unprecedented disruption it caused in exchange rates.

Among the barrage of accusations and criticisms … voices were raised against the decision as it would lead to disastrous results, not least of which is the rise in prices and a further deterioration in the exchange rate of the Sudanese pound.

Western welcomed the flotation .. The courageous decision, as described by the US embassy in Khartoum, accuses the government of bowing to the conditions of international institutions, and that it has not taken any measures to address the implications of the decision to float.

Accusations faced by the government, with asserting that it has taken all possible measures to prevent price hikes, and that the central bank is able to intervene when necessary to correct the course of the exchange rate.

Sudan, which has been dreaming for many years, walking on the wheel of the global economy, after its removal from the list of countries sponsoring terrorism and normalization of relations with Israel, finds itself in front of a sharp turning point amid protests over the high cost of living that erupted after the formation of a government of “difficult tasks” to reform the economy …
Will the float decision succeed?



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