Sudanese economy is in its ‘weakest state’, says former bank governor
April 7, 2011 (KHARTOUM) – The former governor of Sudan’s central bank Sabir Mohamed Al-Hassan sounded the warning bell on Thursday over the economy saying that it is in its “weakest state” and needs to be addressed on an urgent basis.
The ex-governor said that the big challenges encountered require cooperation and an early start to weather the critical stage faced by the country. He emphasized that the current crisis can be managed only by a comprehensive program of economic reform.
Al-Hassan also revealed for the first time that his departure from the central bank last month was not without cause but declined to discuss the reasons saying this is not the time for that.
At the time, the governor said he had asked the presidency not to renew his contract which expired March 7th. He was quoted as saying that reasons behind his decision were his age and length of time he had spent at his current position saying it affected his health as well his family and social relations.
He denied reports that differences with the economic team in the government prompted his move.
His resignation came few months away from the country’s official split between North and South as a result of the referendum that took place in January. The breakup will deny the North billions of dollars in revenue from oil produced mostly in the South.
Under a 2005 peace accord for the last five years both sides equally split the proceeds of the exports from the oilfields.
Talks are underway between the North and South over a possible continuation of sharing oil proceeds but likely at a reduced percentage for the North.
Sudan is witnessing sharp increases in cost of living for ordinary citizens and severe shortage in hard currency. An austerity package approved last January lifted subsidies partially on petroleum products and sugar. The finance minister said that this was necessary to avert an imminent economic collapse.
Analysts say years of overspending and oil dependency have caught up with Khartoum. Foreign investment has slowed because of the global financial crisis and a soaring import bill has caused inflation to rise and foreign exchange shortages.
The former governor defended his record saying that all the decisions and policies taken during his term were “correct, positive and successful” and that there were no errors but more pros than cons. He added that during his term there was a remarkable improvement and advancement in the banking sector.
Al-Hassan was succeeded by former finance minister Mohammad Khair al Zubair.
(ST)
Omoni jr
Sudanese economy is in its ‘weakest state’, says former bank governor
south sudan love that without elaboration!!!!!!!!!!!!!!
Waucity
Sudanese economy is in its ‘weakest state’, says former bank governor
Arabs were the first to say that they will not treat our patients and that they do not wants our MPS in their government before July 9, 2011…However, we share oil with them, what is wrong with these people? Are they okay? Give them oil money and only to go and buy thousands of cows for Egyptians.
Catch 22
Sudanese economy is in its ‘weakest state’, says former bank governor
The state of the Sudanese economy includes South Sudan too. It is ironic that some of the contributors are very naive to think that north Sudan is in shit alone. On the contrary, we in the south are worst off given our lack of financial discipline. I suggest we prepare for the runaway inflation as we prepare to luanch our new currency after July 2011. There is little to celebrate about. I suggest you guyz shut up as we wait for our turn folks!
original sudanese
Sudanese economy is in its ‘weakest state’, says former bank governor
Omni Jr
Your have evil sprit. Why would you love bad things to happen to innocent people that have nothing to do with SPLM / NCP? Normally poor people who suffer from bad economy not fat governors. Don’t worry your evil sprit will get you one day
Akech
Sudanese economy is in its ‘weakest state’, says former bank governor
The more hitre you have, the more hitre have you.
This is now your advantage do away with it.
For who when us to share our oil with should come clearly that we are share because this and that. what I know is north get only 30% that’s for pipe passing through their land no more that and will only be temparertily.
Thanks
Paul Ongee
Sudanese economy is in its ‘weakest state’, says former bank governor
Khartoum,
Which statement is reflectively correct? The one stated by the current governor or former governor of central bank of Sudan? The difference is only about a week.
1. Sudanese economy is in its ‘weakest state’, says former bank governor
2. Sudan central bank says bottleneck over hard currency eases
April 4, 2011 (KHARTOUM) — The Central Bank of Sudan (CBoS) revealed today that the country’s supply of hard currency has increased as of late reversing long-standing shortage that has had a harsh impact on ordinary citizens and businesses alike.
I think the current governor is not just “trying” to cover up “financial woes” but trying to tell us that travelers do not have to pick up an approved amount of hard currency any longer at Khartoum International Airport when exiting the country.
Paul Ongee
Khartoum, Sudan
Omoni jr
Sudanese economy is in its ‘weakest state’, says former bank governor
fake sudanese “aka slave”
you are cursing or threatening me? what are the innocent people benefits from the tyrant regime of al Bashir?
Let the economy collapse so that Arabs will not have chance to buy weapons of mass distruction against its own people. One hundred of people are dying every day in Darfur,mostly by hunder and other human basic needs,and who are the innocent people you talking about,you blind Arab???? Think befor you opened you big ugly mouth,or are there special innocent people that the khartoum economy serve them?
Be bless.
piol
Sudanese economy is in its ‘weakest state’, says former bank governor
Northerners talk about South Sudan economy,while their’s is getting worst.Wait for six more years and you will see south sudan economy growing rapidly.WE southerners better be patient and work hard toward our independence first.Everything will fall in place after our independence.
Omoni jr
Sudanese economy is in its ‘weakest state’, says former bank governor
cat22.
shut up lady,
what do you know about economy?
what is economy?
mohammed ali
Sudanese economy is in its ‘weakest state’, says former bank governor
Paul,
I am really astonished why are you still in Khartoum? Why donnot you go enjoy being a first class citizent in the SPLA paradise where the economy is booming! Why do you insist to remain a second class citizent?It is strange to me.It is strange to remain with somebody who you hate so much!
Coming to the economy , we are facing difficulties! What is wrong with that? Why should that make you happy? War was over why do you always put yourself in competetion and comparison with us? It is just funny. Does it improve the conditions in the South if the north economy deteriorated?!
I think the contrary will happen because there are 2 milloion southerner living in the north and if they go back to the south it will be a huge burden to the new state!Southerners are still living in the north in peace and security and thousands who were repatriated to the South are coming seems they are fed up living as first class citizents in SPLA paradise!
We donnot wish you bad , we wish you all the best! Your plight does not mean our progress and hatered is not going to take you any where.
Born to Achieve
Sudanese economy is in its ‘weakest state’, says former bank governor
Mr,governer.
Tell al-bashir to bring back the $ 9million he stol,then your enconmy strenght will be restored back.
Think positive.
Marco A. Wek
Sudanese economy is in its ‘weakest state’, says former bank governor
Mohamed Ali I have to agree with you that hatred is the human worst enemy, yet you people hate Israel even though they have not done anything wrong to you. Do you people want to tell us it is justified for you hate others while others are not allowed to hate you back for your bad deeds? Where on earth did you people learn that doctrine?
You asking Paul why he is still staying in Khartoum when you thinks he hates NCP, well you people hate West, particularly, the United States, yet how many of you are still staying in the the US and how many of you are still coming to the US? Well Paul maybe their now because we have not yet become two separate countries and that is why North is still getting share of Southern oil. If Paul continues to stay in the North past July 9th and that he continues to critize your government while in your part of the country, I will then give you a credit but not now. I am sure there is noway you burn US flag or critize US while you are in the US but I am sure when you go back to North Sudan you like the rest of your people who are full of hatred to the US and Israel will not think twice to do so for the hatred of others is something embodied in your blood. It is easy to accuse others for hatred while covering up ones own hatred towards others.
mohammed ali
Sudanese economy is in its ‘weakest state’, says former bank governor
Wek,
We donnot hate the west, us, christians or jews as people..no. We hate what they do for us, we hate what they did in Africa, in Palstine; but we donnot hate them as individuals.
The problem is that here , people like Paul hate us as people and so many associate race with certain negative action.Not only hatred is directed towards us, but it is among different tribes. Look at the words used here and how suddenly any topic could be converted to tribal hatred. Every topic is converted into Dinka and Neuer with filthy profani and malacious threats and accusations. I will kill is the easiest word to be said here!
I wonder why you are defending Israel and the west! Do you think they like you or they are going to help you? Tell me of a good example of a country they have contributed to it’s progress.I thinkt it is naieve to say that.
I would expect you to say why you hate us? That would be a reasonable question. But you know well , we donnot! Even during the war millions of southerners lived in the north and still millions are living and would not go back simply because nobody hate them here!
Sudani Logik
Sudanese economy is in its ‘weakest state’, says former bank governor
Mohammed
You are full of it, Wek asked you a reasonable question and you couldn’t give a reasonable answer except turn it into a south-south issue. You are the one with unjustified hate, at least southerners have a very good reason to hate your racists likes.
Despite the justified resentment/ hate for Israelis by most Palestinians, yet there are many Israeli Arabs living in Israel, so what’s your point? You fail every time you attempt to sound humane towards southerners, simply because of your approach. Try empathy instead sympathy.
This nonsense that all southerners living in the north are living with dignity is a joke, most racists like you don’t even apply the correct label of “Sudaneen” but you mostly refer to them as “Junobeen”. We wont even bother go into all the other social, political and economic injustices they face. This my friend is the exact reason why your indoctrinated mentality will never fool most Sudanese.
Nubian
Sudanese economy is in its ‘weakest state’, says former bank governor
Sudani, I couldn’t agree more. Unfortunately due to tribalism and warfare in Sudan most Sudanese have become very racist, stubborn and simply ignorant. This does not just apply to specific group of people but to most of us. “Janobi”, “Gharbawi”, “Jalabi”, “Halabi”, “Mundukro”, “Aroob”, the list goes on forever!
This whole mentality of me and my brother against my cousin, and my cousin and I against the stranger is what has brought to us to this point.
Poor Sudan… constantly let down by it’s sons and daughters, who hang their troubles on ethnicity and forget that our diversity is the essence that make our social fabric so unique and as us individuals some of the most admired people in Africa.
Shame on all of us.
Young Nation
Sudanese economy is in its ‘weakest state’, says former bank governor
North Sudan should really avoid pretending about the abnomalty of its economic status following South Sudan’s independent vote. Recent claims that North Sudan economy would still be robust is deceptive and reflect government’s dishonesty to its Northern Population.
How could North Sudan’s economy remains strong when South Sudan seceeds with billions of petro-dollars? Sudan ex-bank governmor is one of the few honest North Sudanese who could not handle releasing liars about North Sudan’s true economic status. Truly speaking, North Sudan should recover it economy through reduobling its agricultral activities if it is to survive.
Young Nation is a South Sudan residing in Melbourne. Australia