Sudan's central bank receives $1.4bn to bolster foreign currency reserves

A merchant in Birao, northern Central African Republic, shows Sudanese bank bills on December 20, 2017. (AFP)
Updated 13 March 2018
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Sudan's central bank receives $1.4bn to bolster foreign currency reserves

KARTOUM: The Sudanese news agency announced on Tuesday that the Central Bank of Sudan will receive a $1.4 billion deposit from UAE to support its foreign currency reserves. 

Abu Dhabi Fund for Development said that the cash deposit is intended to help Sudan overcome foreign currency shortages.

The value of the Sudanese pound has fallen on the Sudanese black market. The deposit could help Sudan fend off further currency pressures.

As the country battled soaring inflation, the country has devalued its currency against the U.S. dollar. The move was a bid to attract foreign investment but foreign currency remains in short supply in the legitimate Sudanese banking system.

 


US-led coalition destroys Daesh site in Syrian mosque

Updated 10 min 4 sec ago
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US-led coalition destroys Daesh site in Syrian mosque

  • Fighters with the Syrian Democratic Forces secured Hajjin after weeks of heavy fighting
  • The town is located in eastern Syria about 30 kilometers from the border with Iraq

WASHINGTON: US-led coalition forces destroyed a Daesh group command center inside a mosque in the Syrian border town of Hajjin on Saturday, the US military said.
The statement comes as Kurdish-led forces mop up the final remnants of Daesh extremists in Hajjin, the largest settlement in what is the last pocket of territory controlled by the extremists.
More than 16 “heavily armed” Daesh fighters were at the “command and control node” at the mosque when it was destroyed by a “precision strike,” a statement from the Combined Joint Task Force read.
The extremists, who were all killed in the strike, were using the mosque to “command attacks against Coalition partners,” it said.
The Daesh group “continues to use protected structures to launch attacks against our Coalition partners with complete disregard for the infrastructure and innocent human lives,” the statement added.
Fighters with the Syrian Democratic Forces secured Hajjin after weeks of heavy fighting on Friday, the Britain-based Syrian Observatory for Human Rights said.
The town is located in eastern Syria about 30 kilometers (18 miles) from the border with Iraq.
The area is sometimes referred to as the “Hajjin pocket,” the last rump of a once-sprawling “caliphate” the group proclaimed in 2014 over swathes of Syria and Iraq.