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Sudan declares an economic emergency due to the devaluation of its currency

The Sudanese interim government declared an economic emergency on Thursday due to the devaluation of its currency, of which it has accused people associated with former President Omar Hasan al Bashir, and the establishment of special courts to resolve the issue.

“We confirmed that the rapid rise in the dollar was not due to changes in the structure of the economy. Instead, the government took steps to radically dismantle the gold trade and reduce smuggling, but the dollar continued to rise.” Finance Minister Hiba Mohamed Ali said at a press conference in Khartoum.

With this in mind, he has stated that the security authorities believe that there has been a sabotage operation involving missing coins and speculation in gold. According to Ali, security measures may not be the only solution, although some additional ones will be adopted so there will be other economic measures as well.

Sudan declares an economic emergency due to the devaluation of its currency
Sudan declares an economic emergency due to the devaluation of its currency

The Lebanese pound has fallen to lows on the black market, where the dollar is trading for more than £ 260, leading some traders to say they will stop using the local currency.

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