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.

 


Abbas denies Palestinians refused peace talks with Israel

Updated 21 September 2018
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Abbas denies Palestinians refused peace talks with Israel

PARIS: Palestinian leader Mahmoud Abbas has denied US claims the Palestinians have refused to enter peace talks with Israel.
Abbas’ denial came after talks in Paris with French President Emmanuel Macron Friday. Abbas asked Macron to pass the message onto US President Donald Trump.
US National Security Adviser John Bolton said earlier this month that the Palestinian de facto embassy in Washington was being shut because the PLO hadn’t taken steps toward negotiations.
Abbas said “we didn’t reject negotiations as the Israelis claim,” adding that the Palestinian side is “ready for any confidential or public talks.”
Abbas also said “the Europeans are working seriously to substitute and fill the American (funding) gap” after the Trump administration canceled over $200 million in aid for Palestinian projects.