By RFIPalled on 21-04-2019Modified on 21-04-2019 at 23:00
Sign of optimism for the future of Sudan? The currency has been recovering strongly for a week. This rebound in the Sudanese pound was accentuated on Sunday, April 21, with the announcement of a $ 3 billion financial support from the Gulf monarchies.
Saudi Arabia and the United Arab Emirates have released the checkbook to help Sudan's post-Bashir: $ 500 million to the Sudanese Central Bank and $ 2.5 billion to, says the official agency Saudi Arabia, "to finance the Sudanese people's purchases of food products, medicines and petroleum products".
Purchases that the Sudanese regime had increasingly difficult to finance since the loss in 2011 of three quarters of its oil revenues to the benefit of South Sudan. All the more so since the currency had only depreciated against the dollar.
Vicious, the circle seems to want to become virtuous: with the promise of new revenues, including financial support from the Gulf countries, the Sudanese pound is recovering, and strongly. Its value has doubled on the black market in a week.
The Sudanese, who had so far been diverted from their currency, are now getting rid of their dollars to buy the Sudanese pound, hoping it will continue to climb.
►Also read: Sudan: how an economic gear caused the fall of Omar al-Bashir
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