Sudan Devalues Currency in Hopes of Righting Economy - News Summed Up

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Sudan Devalues Currency in Hopes of Righting Economy


Sudan's annual inflation rate is more than 300%, one of the world’s highest, and sparked protests over the struggling economy. Omer says it is a positive step and it is necessary to reform the Sudanese economy. But analyst Abubakr Mohamed says the effects on average people will be small, as the official economy was not controlled by the market. He says the does not think the negative impact will be big, as the economy was not built on the official economy. All of the markets dealing prices, especially the imports and the exports and imported life necessities, were evaluated with the black market rate.


Source: Ethiopian News February 22, 2021 18:00 UTC



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