SUDAN INSIGHT ALERT: Guardian - Where is our money?: Sudan's currency crisis deepens

9/5/19: Guardian- ‘Where is our money?’: Sudan’s currency crisis deepens, by Peter Beaumont and Zeinab Mohammed Salih

 Peter Beaumont and Zeinab Salih report on the banking crisis currently affecting Sudan, saying that “confidence in the banking system has been eroded.”

Beaumont and Salih suggest that chronic mismanagement on the part of the former regime is to blame for the ongoing banking crisis. The writers also suggest that issues such as the 2011 secession of South Sudan and the subsequent loss of oil revenues are major factors which fuelled the crisis. Beaumont and Salih also note that in recent times, inflation was triggered after the central bank decided to devalue the pound by roughly 40% and that the consequent rising inflation was one of the key factors which helped oust former president Omer al Bashir.

Beaumont and Salih hint that the economic crisis has not yet fully played out and that dire consequences may be expected as the crisis continues to unfold.