News South Sudan Banks: World Bank Group Appoints New Country Manager for South Sudan
The World Bank Group has appointed Mr. Firas Raad as the new Country Manager for South Sudan effective August 1, 2021. Mr. Raad will be leading an expanding country program focused on delivering ...
News South Sudan Banks: Sudan’s war is wrecking a lot, including its central bank – a legacy of trailblazing African American economist and banker Andrew Brimmer
Andrew Brimmer gets sworn in as a member of the Federal Reserve Board. President Lyndon Johnson, right, Brimmer's wife and daughter look on. Robert L. Knudsen via Wikimedia CommonsThe war in Sudan between two rival generals for control of the country is devastating in so many ways. Hundreds of civilians have been killed, thousands injured and more than 1 million people are now homeless. The fighting is even wreaking havoc on the country’s central bank. In late April 2023, a video surfaced of a b
News South Sudan Banks: Sudan’s war takes a devastating toll on Central Bank
Brimmer's upbringing in the segregated Jim Crow South shaped his worldview and fueled his determination to advocate for economic equality.
News South Sudan Banks: South Sudan moves to protect bank deposits with insurance scheme
Bank of South Sudan is seeking economy de-dollarisation to tame dollar speculation, improve local unit and lower cost of living.
News South Sudan Banks: Air strikes pound Sudan's capital as conflict enters second month
KHARTOUM (Reuters) - The Sudanese army carried out air strikes on Monday along the River Nile in the north of the capital Khartoum as it fought to push back its paramilitary rivals after a month of warfare, witnesses said. Intense battles in Khartoum and its sister cities of Bahri and Omdurman have raged despite Saudi and U.S.-brokered talks between the army and the paramilitary Rapid Support
News South Sudan Banks: A month into Sudan's brutal war, no end in sight
One month since Sudan's conflict erupted, its capital is a desolate war zone where terrorised families huddle in their homes as gun battles rage in the dusty, deserted streets outside.Across Khartoum, those still alive remain barricaded, hoping to dodge stray bullets and enduring desperate shortages of food and basic supplies.There are power blackouts, a lack of cash, communications outages, and runaway inflation.The city of five million on the Nile River was long a place of relative stability and wealth, even under decades of sanctions against former strongman Omar al-Bashir.Now it has become a shell of its former self.Charred aircraft lie on the airport tarmac, foreign embassies are shuttered and hospitals, banks, shops and wheat silos have been ransacked by looters.While the generals fight, what remains of the government has retreated to Port Sudan 850 kilometres (528 miles) away, the hub for mass evacuations of both Sudanese and foreign citizens.The battles have killed more than 750 people, according to the Armed Conflict Location and Event Data Project. Thousands more have been wounded and nearly a million people displaced, with long refugee convoys headed to Egypt, Ethiopia, Chad and South Sudan. Some food prices have quadrupled, and petrol now sells at 20 times its pre-war price.Multiple truce deals have been agreed and quickly violated, and hopes are dim for an end to the fighting which has piled more suffering on the 45 million people of one of the world's poorest countries.Both sides "break ceasefires with a regularity that demonstrates a sense of impunity unprecedented even by Sudan's standards of civil conflict," said Alex Rondos, the European Union's former special representative to the Horn of Africa.- History of coups -Sudan has a long history of coups, but hopes had risen after mass pro-democracy protests led to the ouster of Islamist-backed Bashir in 2019, followed by a shaky transition toward civilian rule.As Washington and other foreign powers lifted sanctions, Sudan was slowly reintegrating into the international community, before the generals derailed that transition with another coup in 2021.On April 15, tensions over the integration of paramilitaries into the army exploded into war between army chief Abdel Fattah al-Burhan and his former deputy Mohamed Hamdan Daglo, who leads the paramilitary Rapid Support Forces (RSF).Despite all the bullets, aerial bombardments and anti-aircraft fire since then, neither side has been able to seize the battlefield advantage.The army, backed by Egypt, has the theoretical advantage of air power while Daglo is, according to experts, supported by the United Arab Emirates and foreign fighters. He commands troops that stemmed from the notorious Janjaweed militia, accused of atrocities in the Darfur war that began two decades ago.Russian mercenary group Wagner is not fighting but has "technical advisers" in Sudan, said Cameron Hudson, of the Center for Strategic and International Studies.For now, "both sides believe that they can win militarily", US Director of National Intelligence Avril Haines told a Senate hearing in early May.The fighting has deepened the humanitarian crisis in Sudan, where one in three people already relied on humanitarian assistance before the war.Since then, aid agencies have been looted and at least 18 humanitarian workers killed. In six months, up to 19 million people could be food insecure, the UN has warned.- 'Poorer for longer' -Across the Red Sea, in the Saudi city of Jeddah, envoys from both sides have been negotiating.By May 11 they had signed a commitment to respect humanitarian principles, including the protection of civilians and, in general terms, a commitment to let in badly needed humanitarian aid.But, "absent a significant change of mindset from the warring parties, it is hard to see that commitments on paper will be fulfilled," said Aly Verjee, a Sudan researcher at Sweden's University of Gothenburg.Sudan has had a long history of conflicts, especially in the western region of Darfur, where Bashir from 2003 armed and unleashed the Janjaweed to quash a rebellion seeking an end to what the insurgents said was domination of Sudan's power and wealth by Arab elites.The scorched-earth campaign may have killed 300,000 people and uprooted more than 2.7 million at its peak, the UN said. According to the health ministry, the bulk of deaths during the current fighting have occurred in Darfur.The ministry reported 199 fatalities in Khartoum, but said at least 450 people were killed by May 10 in El Geneina, the capital of West Darfur state, and surrounding areas."We are told of snipers continuing to be in the area, shooting people leaving their houses," Mohamed Osman, researcher at Human Rights Watch, told AFP.With hospitals gutted, he added, "there are also reports of people dying from the injuries they sustained in the early days of fighting".The aid group Doctors Without Borders said food shortages in Darfur displacement camps mean that "people have gone from three meals a day to just one".Verjee said the fighting across the country has destroyed workshops and factories and caused "the partial deindustrialisation of Sudan"."This means that any future Sudan will be much poorer for much longer."bur/fz/it/lb
News South Sudan Banks: Sudan conflict rages on after a month of chaos and broken ceasefires
Sudan's two top generals are at war with each other, laying waste to a country that many had hoped was about to push toward democracy.
News South Sudan Banks: Sudan: No signs of peace, one month since fighting broke out in civil war
"It's really heartbreaking. It's hell... One of the things that needs to happen is for the international community to send a very strong message to the warring parties and say that humanitarian assistance and in general, civilians lives and civilians infrastructure ought to be protected ..."
News South Sudan Banks: South Sudan's central bank cuts key lending rate to 12% from 15%
JUBA- South Sudan's central bank has cut its benchmark lending rate to 12% for 2022, from 15% last year, its Governor Moses Makur Deng said on Tuesday. "The BoSS (Bank of South Sudan) has revised down ...
News South Sudan Banks: South Sudan’s central bank to stabilize economy
The Central Bank of South Sudan said it will inject $13 million weekly into the economy as part of efforts to strengthen the South Sudanese Pound (SSP) against the dollar. Speaking to reporters in ...
