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  • 14-03-18

    UAE to offer USD1.4bn to Sudan's central bank

    (MENAFN) Official SUNA news agency reported the UAE to be planning on granting Sudan's central bank an amount of USD1.4 billion.

    The decision has come with Sudan undergoing a deficiency in foreign reserves, as the UAE aims to offer some support.

    Citing the UAE government's statement, SUNA reported "the UAE government has decided to support the Bank of Sudan by depositing 5 million dirhams, an equivalent of 1.4 million U.S. dollars."

    Sudan has been struck with an economic collapse following a number of government actions that received a backlash, as it led to hikes in basic commodity costs as well as a drop in local currency.

    MENAFN1403201800450000ID1096589670

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