Saudi-UAE Move Ahead to Settle Economic Crisis in Sudan

Last updated on August 12th, 2019

In a move to counter the ongoing crisis in Sudan, the United Arab Emirates (UAE) and Saudi Arabia announced that they would send a combined package of 540,000 tonnes of food supplies to the nation. The aid is expected to curb the shortage of basic food needs for three months; amidst rising inflation and economic downfall.

As of now, more than 280,000 tonnes of wheat are shipped to the nation, and both Saudi Arabia and the UAE remain keen on providing the “possible support to Sudan in overcoming its difficult conditions and achieving economic stability and food security,” said Mohammed Al Suwaidi, director general of the Abu Dhabi Fund for Development.

The helping hand of the Gulf nations comes as a part of vow made post removal of Sudanese President Omar Al Bashir, following months of demonstration against his decades old reign.

Last month, Saudi Arabia deposited US$250million in the Central Bank of Sudan to assist the financial position, the Saudi Finance Ministry said. The money deposited was a part of the larger grant, which amounts to $500 million. Consequently, the total amount of funds promised by the Kingdom and the Emirates together estimate to $3 billion in aid, with the rest directed for fuel, wheat and medicine.

The capital channelized by the Gulf alliance is likely to resolve the deficits and crisis of Sudan, which amount to $1.3 billion. The debt on the nation has piled since the US embargo, which has even handicapped its ability to reach any international body or even the World Bank for support.

The instability peaked in December after the declining value of currency left the civilians tottering for basic amenities. However, as al-Bashir’s reign bit dust, the military arrested him and took over.

Presently, the ruling military council is in talks with protest leaders about a transition to civilian rule, where countries, including the US, have urged the two sides to reach on a common ground. As per the military’s claims, the new administration needs to resolve many of the pending issues that originally sparked protests.

Nonetheless, a new accord was signed on Sunday between Sudan’s military council and representatives of the opposition coalition, which is expected to make headway for a transitional government.

Write a response

Leave a Reply

Your email address will not be published. Required fields are marked *

True News Source © Copyright 2018. All rights reserved.