Sudan says to devalue currency amid huge budget deficit

Sudan’s government on Wednesday said it will devalue its currency due to a huge budgetdeficitand an economiccrisisaggravated by thecoronaviruspandemic.”State revenues have dropped by 40 percent and this has created a huge deficit in the budget,” acting Finance Minister Hiba Mohammed said in a statement released by the government.”The government must take urgent measures and change the official rate of the (Sudanese) pound,” she added.The pound’s official rate is 55 to the US dollar, compared to 140 on the black market.Sudan’s transitional government has grappled with an acute economic crisis s…

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