Home | News    Monday 14 May 2012

Sudan receives "large" transfer of cash from foreign source: official

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May 13, 2012 (KHARTOUM) – Sudan has received a "large" transfer of cash from unspecified source which would soon cause a 50% jump in the value of the local currency against the U.S. dollar, officials in Khartoum said.

A Sudanese man shows freshly-minted notes of the new Sudanese pound in Khartoum on July 24, 2011 (Getty)

The deputy governor of Sudan’s central bank Badr al-Deen Suleiman said that the funds have already been received by his institution but declined to disclose the source or the amount.

Sources in Khartoum told Sudan Tribune that the latest foreign cash infusion came from Libya.

Suleiman projected that it would have a big impact on stabilizing the Forex market in Sudan.

"The few coming days will witness significant decline in [U.S. dollar] exchange rate," Suleiman said.

The secession of the oil-rich south last July caused suffered a sharp drop in revenues and foreign currency influx for Khartoum.

The Sudanese pound has lost half of its value against other major currencies and particularly the U.S. dollar which has become scarce in the market.

Last month, U.S. dollar bought 6.1 pounds on the black market, a historic low since the Sudanese pound was introduced in 2007, the traders told Reuters. The official rate has remained about the same, at around 3 pounds to the dollar.

Sudanese officials have pleaded for help with Arab countries and China but so far only Qatar has come forward with a $2 billion investment announcement.

The finance minister Ali Mahmood Abdel-Rasool confirmed Suleiman’s announcement adding that he expects the black market rate to drop by 50%.

(ST)

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  • 14 May 2012 09:18, by cul achar

    who cares about your damn liars, your days are numbered just wait. we will hand you over to ICC.

    • 14 May 2012 09:34, by Ayom Dor

      Even if the blood dollar money comes from Arabs in supporting Sudan, South Sudan will not feel jealous about improving the living standards of Northerners but if Bashir invests these cash in weapons for borders’ wars, we will retailate bitterly and capture them like the ones of heglig..So they should be reminded of not beating the drums of wars..we r resistance neigbour!

      • 14 May 2012 17:23, by Sudani+

        Dor,
        It seems you are a wise guy.
        - be assured we and our leadership in Sudan do not want war, this why:
        - we agreed to the CPA, ss session,
        - letting 75% of oil to go to the SS, and
        - our president is the first one to address SS ppl in Juba and salute them with their new country.

        but ask SPLM leaders why they opt for war now! what is their agenda! what benefit ss ppl will get!

    • 14 May 2012 10:10, by Mahmoud mohamed Abdalla

      cul achar
      Be true African and always don’t refer to white master who made ICC and started with black Africans.
      Let’s build a pure African court and we are powerful to condmn all.
      Iam with justice but not with whites who killed many members of my tribe.
      I said loudly for all Darfurians to unite.
      The White colonizationists killed the great Ali Dinar in his land Darfur.

    • 14 May 2012 10:50, by Abraham Ayom

      Jalaba/Arabs in Khartoum ruled out before that they will not accept any single Note for USD. HOW come now they Arabs-Chineses are helping to smuggle dollars into Khartoum?

    • 14 May 2012 12:14, by Lang

      Qatar loan is a lie also

  • 14 May 2012 09:28, by Hotep

    This is the money they have stolen and brought it back to feed the market recession, when they are in trouble now. No one in Arab world is willing to give money to those who kill their own people with money that is borrowed.

    • 14 May 2012 17:17, by Sudani+

      Hotep,
      let us assume you are correct (sure you are not) in saying this is the money they have stolen and brought back. This means they are better than the once who steel but do not care about their people is SS.
      Ask the SPLM leaders to bring back the money they have stolen to feed the hungry, to treat the illness, let children go to schools and shelter,the displaced.

  • 14 May 2012 19:26, by weltahir

    Great news, alhamdulilah we will get past this hardship.

  • 14 May 2012 20:29, by panom lualbil

    Why source of what the called ’LARGE’ cash by khartoum was an anonymous ? Was it because they sold stollen oils from SOUTH SUDAN to get this cash ?

  • 15 May 2012 10:47, by dana_maki

    Beautiful news made ??me optimistic, even if it was a lie, it means that our government is working to implant hope in us, do not believe it’s taken from the southern oil because it can not steal something from the thief



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