Sudan Has Imposed An Economic Emergency To Contain The Economy's Decline
Sudan has imposed an economic emergency in the country to contain the economy's decline, the country's Finance and economic planning Minister, Heba Ahmed Ali, said on Thursday.
"We are declaring a state of economic emergency to contain the fall in the economy and stop the depreciation of the pound's exchange rate against the dollar," the Minister said at a press conference in Khartoum.
Ahmed Ali also added that "the government of the country has other measures to stabilize the exchange rate, namely an agreement in the IMF to receive $480 million in financial assistance."
The exchange rate of the Sudanese pound against foreign currencies fell sharply on the black market, causing chaos in commodity prices in addition to the closure of hundreds of stores on Thursday morning due to exchange rate instability.
In April 2019, a military coup took place in Sudan, sparked by popular protests amid a deep economic crisis and declining living standards. President Omar al-Bashir, who ruled for 30 years, was removed from power and later jailed.
In late August 2019, the head of Sudan's transitional military Council, Abdel Fattah al-Burhan, was sworn in as the head of the country's Sovereign Council. The new Prime Minister of the Sudan Abdullah Hamdok was sworn in on August 21 of 2019. The military and civilian authorities agreed on a transition period for large-scale political and economic reforms.