The Sudanese Ministry of Finance said, on Monday, that Sudan has signed an agreement with the United Nations Industrial Development Organization (UNIDO) to establish a sovereign fund to protect small investors, amounting to 300 million dollars.
And the Sudanese capital witnessed widespread protests, last Tuesday, as the demonstrators closed the main streets, due to the living conditions.
The economic situation in Sudan has worsened during the last four weeks, due to the high prices of food commodities, the scarcity of bread, cooking gas and fuel, as there are no signs of resolving these crises soon.
Before that, the transitional government completely removed government subsidies on fuel, and partly on bread flour and electricity, and this caused an increase in the inflation rate, which reached in December 2020, to more than 269%.
The deterioration of the economic conditions was exacerbated by the depreciation of the national currency against foreign currencies, as the price of one dollar reached 310 Sudanese pounds.
Source: “Reuters” + RT + Sudan Tribune