 "Sudan flag on soldiers arm")
Sudan’s central bank steeply devalued the country’s currency, as part of a broader effort to win debt relief and revive the struggling economy.
The move was demanded by international lenders but threatens to pile on more hardship in a country whose inflation rate topped 300 per cent in January. The currency liberalisation is a key component of the economic reforms planned by Sudan’s military and civilian rulers, who began transitioning the African nation to democracy after decades of authoritarian rule.
The central bank instructed banks and exchange bureaus to adopt the new system immediately, according to a statement
The move was demanded by international lenders but threatens to pile on more hardship in a country whose inflation rate topped 300 per cent in January. The currency liberalisation is a key component of the economic reforms planned by Sudan’s military and civilian rulers, who began transitioning the African nation to democracy after decades of authoritarian rule.
The central bank instructed banks and exchange bureaus to adopt the new system immediately, according to a statement
