Sudan: Central bank to issue new 100 pound notes to attenuate inflation and liquidity shortage

Oct 02, 2018 | Ecofin Agency

In Sudan, the Central Bank is planning to issue new 100 pound notes, Reuters indicated on Sunday.

These notes are aimed at increasing the country’s money mass and to attenuate the liquidity shortage affecting the economy for months now - these shortages have led to a considerable drop in the daily withdrawals in that country.

It should also help reduce the rising inflation, estimated at 60% (the highest in the world), that tumbled the value of the local currency.

Indeed, seven years after the independence of South Sudan which left with more than ¾ of former unified Sudan’s oil resources, current Sudan is still experiencing the consequences of a secession that amputated it from its main source of foreign reserve. Let’s remind that according to IMF’s forecast, the country’s economy would grow to 3.7%.

 

Source: Ecofin Agency