Sudan’s currency hits low before Ramadan, stokes dissent
KHARTOUM |
KHARTOUM (Reuters) – Sudan‘s currency fell close to its historical low against the dollar as demand for imported food surged before the holy Muslim month of Ramadan, driving up prices and fuelling anger over a severe economic crisis.
President Omar Hassan al-Bashir, in power since 1989, has avoided an “Arab spring” but an austerity programme that included scaling back fuel subsidies sparked small-scale protests four weeks ago.
Sudan lost much of its oil resources when South Sudan seceded a year ago, exacerbating an economic crisis and depriving the state of its main source of revenues and dollars.
With Ramadan starting within a day or two, millions of Sudanese are stocking up on meat, spices and sweets to prepare the large meals they will eat in the evenings after fasting all day.
Anti-government protests have so far been small but anger over food prices is rising. Prices usually go up in Ramadan but this year they add to an inflation rate of 37.2 percent, more
Read more: http://uk.reuters.com/article/2012/07/19/uk-sudan-economy-idUKBRE86I10E20120719
Category: Khartoum
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
