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Currency floatation … a bold move- inside Altaghyeer this week

This week we take a look at the sudden decision of currency unification- impacts and reactions

In a risky move, the Sudanese central bank on 21st of February 2021 declared the currency unification (currency floatation), a step that is considered a first in the Sudanese history, the decision was followed with a package of policies and procedures that are purposed to reform the exchange rate. The decision has 9 main goals that are supposed to be fulfilled in the process but the most important goal is to stabilize the exchange rate and attract all the hard currencies in the black market back to the official exchange channels and the banking system. The minister of finance Gibril Ibrahim has initiated a tour visiting the banks in Khartoum and inspected the implementation of the decision. However, this step has been criticized by politicians and civil society activists.

Meanwhile, Sources that are still anonymous confirmed that Sudan will receive a support grant worth of 9 billion dollars by march to support the currency floatation decision, while many initiatives on social media by small and business owners (specially restaurants and cafes) that promote the decision by offering discounts to customers who exchanged currencies through banks.

 

This week Eritrea comes out of silence and takes Sudan’s side by confirming that they understand that Sudanese armed forces are deployed in the Sudanese legitimate lands and expressed it’s concerns regarding the tensions and the ongoing statements war between the two countries.

 

Also, this week Sudan ratifies the United Nations Convention Against torture, and the International Convention for the Protection of All persons from Enforced Disappearance, a step that’s considered an amounted to a complete break with the era of the former regime.

 

After detecting a regression in COVID19 infection rate in the past few weeks in Khartoum state, this week The Emergency and Epidemic Control Department at the Ministry of Health confirmed in a press conference by its spokesperson Dr. Randa Yahya that 126 new cases are recorded and emphasized on the importance and the urgent need to follow health regulations and precautions.

 

 

 

 

 

 

 

 

 

 

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