Saudi Arabia Deposits $250 Million into Central Bank of SudanSource: www.export-egypt.com 7/30/2019, Location: Middle East |
|
|
|
|
|
Saudi Arabia has deposited $250 million into the central bank of Sudan to support its financial position, the Saudi Finance Ministry said in a statement.
The financial grant is part of a package with the United Arab Emirates worth $500 million announced in April. Both countries pledged an overall $3 billion in aid, with the rest going towards fuel, wheat and medicine. The grant is aimed at alleviating pressure on the Sudanese pound and achieve stability in its exchange rate, the ministry said. In April, President Omar Al-Bashir was ousted after mass protests. However, Sudan's economy is still haunted by Bashir's legacy -- the penalties imposed for his support of militant groups and for the offensive he launched to crush rebels in the western region of Darfur. Because Sudan is still listed by the United States as a state sponsor of terrorism and has $1.3 billion of IMF arrears, it is unable to tap the IMF and World Bank for support. Sudanese banks have struggled to re-establish correspondent relationships with foreign banks. |
|
|
Financials and Investment News in Saudi Arabia >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Saudi Arabia Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | |
