SUDAN NEWS ALERT: Sudan Tribune – Government will not float Sudanese pound in near future

23/9/19: Sudan Tribune – Government will not float Sudanese pound in near future

 Sudan Tribune reports that Sudan’s finance minister Ibrahim Elbadawi said that Sudan will not immediately liberalise the exchange rate regime amid Sudan’s fragile economic situation.

 Attributing Sudan’s economic disaster to a multiplicity of exchange rates, Elbadawi said that any attempt to address the issue should be handled within a global financial plan to ensure its success.

 He further expected that the "exchange rate of the national currency will be liberalised within the emergency program in the middle of next year.”

 Elbadawi’s plans go against economic consensus that currency floating is necessary before structural economic liberalisation reforms for poor countries, with the IMF warning that attempts to fix the exchange rate and contain economic pressure through price controls and rationing depress the economy, reduce fiscal revenue and cause trade shift to the informal sector.