Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
THURSDAY, 24 APR 2014
11:45 AM Beirut time
Weather    
Beirut
22 °C
Blom Index
BLOM
1,214.01down
Middle East
Follow this story Print RSS Feed ePaper share this
Sudan replaces central bank chief
Reuters
A+ A-

CAIRO: Sudan appointed a prominent banker to head its central bank Sunday, state news agency SUNA said, in the latest sign of an overhaul of senior posts in the Arab-African state hit by a shortage of hard currency. Sudan’s economy has been in turmoil since South Sudan seceded in 2011, taking with it about three-quarters of the country’s oil production. Oil is the main source of state revenues and dollars, needed for food and other imports.

“President Omar al-Bashir issued a decree to appoint Abdel-Rahman Hasan, head of [state-run] Omdurman National Bank since 2006, as new central bank governor,” SUNA said.

The central bank devalued the Sudanese pound by 22.6 percent against the dollar in November, the second such move in just over a year.

The scarcity of dollars had become so bad that the central bank had started using up the general reserves of commercial banks, which are meant to be kept as deposits with the central bank, a financial source has told Reuters.

Hasan is a board member of Sudan’s Bank Deposit Security Fund and a representative of the Sudanese banks union.

In September Khartoum lifted most fuel subsidies to help tackle a budget crisis. The move doubled pump prices overnight and triggered violent protests in which dozens of people were killed and over 700 people arrested.

 
A version of this article appeared in the print edition of The Daily Star on December 16, 2013, on page 5.
Home Middle East
 
     
 
Sudan
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Wednesday, April 23, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Israel shows Zionism’s true colors
Michael Young
Michael Young
For Christians, blessed are the dividers
David Ignatius
David Ignatius
An Iran deal is close, but we’re not there yet
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS