Sudan receives a first batch of deposits and grants worth $9 billion dollars

A source confirmed that Sudan has received the first batch of deposits and grants worth 9 billion dollars to start implementing the unification of the exchange rate.
 Khartoum: Altaghyeer
 A source confirmed  that CBS received $ 1.8 billion from the World Bank during the past few days.
 They also confirmed to Assayha newspaper today, Monday that the TG received promises from Arab countries of a deposit of $ 3 billion.
 The source which the newspaper described as informed, noted that the deposit is scheduled to reach CBS in early March.
 It confirmed the arrival of $ 1.2 billion as a second cash payment from the World Bank three months later. Also a deposit of 3 billion dollars from  Arab countries will be deposited to CBS within 3 months at least.
The total amount within 3 months will reach 9 billion dollars.
 The amount received from IBRD represents the first batch of the grant provided to Sudan within the family support program.
 The CBS Governor, al-Fatih Zain al-abidine, stated on Sunday that the donor sums allocated to the family support program.  It will be available in the accounts of the Ministry of Finance in the local currency from Monday. He emphasized that the money came from donors in foreign currencies.
 The Minister  Gebriel Ibrahim, stated that they had received a lot of money from foreign exchange that enabled them to liberalize the exchange rate.
 On Sunday, CBS decided to unify the exchange rate of the pound against the foreign currencies.
 The Commercial banks began to move foreign exchange rates in accordance with the decisions of the Central Bank.
 A central bank statement justified the decision to unify the exchange rate to ensure the entry of foreign currencies into the banking system and to attract expatriate savings.
The statement cited that ensuring the success of these policies requires the solidarity and efforts of all relevant authorities.
However, experts emphasized that floating  requires a package of measures and large amounts of cash reserves.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button