Sudan to adjust currency in reforms

Khartoum – Sudan says it will devalue its currency to try to correct its huge budget deficit and tackle a growing economic crisis.

The Sudanese pound trades at an official rate of 55 to the dollar but the black market rate is 140.



With rampant inflation and state revenues having dropped 40%, the acting finance minister said urgent action on the currency was needed.

The government has also appointed civilian governors for Sudan’s constituent states as part of the three-year transition to fully democratic rule.

On Tuesday the former president Omar al-Bashir, who was overthrown last year, went on trial on charges related to his seizure of power in 1989.

BBC

Caption: A man shows notes of the Sudanese pound in Khartoum on 24 July 2011. [Photo AFP]

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