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Sudan inflation tops 44% in February

March 14 - 2019 KHARTOUM / NEW HALFA

The inflation rate in Sudan rose to 44.29 per cent in February – a month-on-month rise of 1.93 per cent from January.

The rise is attributed to several reasons, including the increase in prices in the food and beverage group.

The Central Bank of Sudan (CBoS) has directed some banks not to feed their ATMs with cash and stop the transfer of balances by telephone.

A number of bank employees told Radio Dabanga that the CBoS has confirmed to them that ATMs have not been fed with cash since Tuesday.

Empty ATMs

The residents in the capital expressed discontent and anger at the liquidity crisis and the lack of cash in the ATMs.

They said that their business and interests have been disrupted by the lack of liquidity, having to waiting for the ATMs to be fed without being able to withdraw from morning till evening.

They said the government has failed to provide liquidity.

Loss of turnover

People of New Halfa in eastern Sudan have renewed their complaint of the worsening crisis of liquidity and fuel and stagnation in the markets.

Residents of told Radio Dabanga that the four ATMs in New Halfa had been out of work for about three weeks. They explained that the maximum ceiling of daily withdrawals in banks does not exceed SDG 500 ($10.50*).

They pointed to the noticeable stagnation in the commercial movement of markets and the cessation of sales and purchases.

Fuel restrictions

On 12 February 2019, the Oil Ministry called on vehicle owners and agricultural industrial machinery owners in all Sudanese states to register their vehicles and equipment at the nearest fuel station, so as to ensure that they get the required amount of fuel. The ministry said in a press statement that this action comes in the context of the Sudanese Oil Corporation seeking to combat the smuggling of petroleum products, combating the black market exchange and enforcing the policies that guarantee everyone’s right to refuel.

The printing of new currency by the Central Bank of Sudan has been necessitated by hyperinflation, coupled with a chronic shortage of hard cash.

As effective foreign exchange rates can vary widely in Sudan, Radio Dabanga bases all SDG currency conversions on the Market Makers Mechanism-determined daily US Dollar rate quoted by the Central Bank of Sudan (CBoS).

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