Sudan raises local wheat buying price

(KHARTOUM) - Sudanese government raised the price at which it buys locally produced new-season wheat to 13,500 Sudanese pounds per sack to support farmers and to encourage them to increase future production.Prime Minister Abdallah Hamdok Sunday visited Al-Jazira State to inaugurate the winter harvest season of wheat in the largest agricultural scheme which covers over 2 million acres, where are working about 130 thousand farmers.Speaking to the farmers in his…

FAO Food Price Index rises for ninth consecutive month in February

Rome - Global food commodity prices rose for the ninth consecutive month in February, with quotations for sugar and vegetable oils increasing the most, the Food and Agriculture Organization of the United Nations (FAO) reports today.The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 116.0 points in February, 2.4 percent higher than the previous month.The FAO Sugar Price Index rose by…

Al-Sudani attacks the Minister of Finance: The number one victim is the citizen by raising the price of the dollar

Baghdad MP Mohammed Shiaa al-Sudani attacked, on Wednesday, Finance Minister Ali Allawi regarding his statements about those affected by the increase in the price of the dollar.Al-Sudani was surprised, in a tweet via Twitter, by the Minister of Finance’s recent statement that contractors are the ones affected by the increase in the price of the dollar in Iraq.Addressing the Minister: We inform you that the number one victim is the…

Sudan Marks Milestone with Historic Bank Wire Transfer

WASHINGTON - The first wire transfer between Sudan and a U.S.-based bank was completed successfully last week ending more than 20 years of economic isolation. Sudanese Ambassador to the United States Nureldin Satti told VOA he received a test wire transfer from Qatar National Bank in Khartoum to his personal account at Wells Fargo in the United States. The change will facilitate remittances through direct bank transactions between Sudan and…

Sudan to establish new gold export rules

(KHARTOUM) - Gibril Ibrahim Minister of Finance and Economic Planning has pledged to develop new policies and mechanisms to tighten gold mining and export revenues.Sudan, a gold producer, failed to crack down on smuggling and attract the much-needed foreign currency through the official channels for long years.In June 2020, the government opened gold export to private companies provided they pay taxes and royalties. But the law exchange rate pushed them…

World Band expects quick clearance of Sudan’s foreign debt

KHARTOUM) - David Malpass, World Bank Group (WB) President, Friday expected quick clearance of Sudan’s external debt after the floating of its local currency.Malpass made his remarks in a speech at a videoconference meeting of G20 Finance Ministers and Central Bank Governors on "Global Economy and Policy Actions for a Transformative and Equitable Recovery” on Friday.The WB president said they closely worked with Sudan to unify the exchange rate of…

Sudan Devalues Currency in Hopes of Righting Economy

Sudan's central bank has sharply devalued its currency, the Sudanese pound, in an attempt to get debt relief, crack down on the black market, and attract money back to the country. The bank unified the price of the currency with the black market at 370 pounds for one U.S. dollar. Sudan's annual inflation rate is more than 300%, one of the world’s highest, and sparked protests over the struggling economy.…

Sudan central bank floats pound

KHARTOUM) - Sudan’s central bank on Sunday floated the local currency saying its price will be fixed by the exchange rate in the local forex market.The dollar was selling for about 380 Sudanese pounds in cash transactions, as the official rate was at 55 to the dollar."Banks are required to announce currency exchange rates based on supply and demand in the market," said the Bank of Sudan in a circular…