SUDAN NEWS ALERT: Radio Dabanga - Sudan adjusts currency to parallel market rate

22/2/2021: Radio Dabanga - Sudan adjusts currency to parallel market rate

 Radio Dabanga reports on comments made by former finance minister Ibrahim al-Badawi on the devaluation of the Sudanese pound. Expressing support for the decision, al-Badawi said that “random borrowing from the CBoS” must be prevented as it can lead to a budget deficit, an explosive inflation, and an economic collapse. The government should also provide foreign currencies to the private sector so that companies can import strategic goods.

Al-Badawi questioned the feasibility of a managed exchange rate system, explaining that it would provide an ideal target for speculators who could kill it in its early stages, as happened during the era of the previous regime in 2018.