Business Insider: Sudan inflation highest in Africa

Business Insider Africa’s recently released list of countries with the highest recorded inflation rate in the continent has Sudan ranking on top.

AlTaghyeer: Agencies

Sudan, according to the IMF, is the country with the highest rate of inflation in the continent for the year 2022.

Sudan’s inflation rate has reached an approximate of 245% for the current year, putting at the top over Zimbabwe, which has an inflation rate of 86.7%

The country had plummeted into economic chaos following the military coup which saw Gen. Abdel Fattah al-Burhan overthrow the civilian half of the then transitional government.

Following the coup, western governments decided to withhold all aid and finance, which was estimated to be in billions, until the return of a legitimate, democratic, civil government.

Despite having the highest recorded inflation rate for 2022, Sudan’s inflation rate has actually receded since the earlier recordings in 2021.

The rate recorded for the month of August for 2021 had surpassed the 400% margin, before dropping to 387.56%.

Leave a Reply

Your email address will not be published.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

Back to top button