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Saudi Arabia deposits $250 million into central bank of Sudan
[AlAhram] Soddy Arabia...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in the Soddy national face... has deposited $250 million into the central bank of Sudan to support its financial position, the Saudi Finance Ministry said in a statement on Tuesday. The financial grant is part of a package with the United Arab Emirates worth $500 million announced in April. Both countries pledged an overall $3 billion in aid, with the rest going towards fuel, wheat and medicine. The grant is aimed at alleviating pressure on the Sudanese pound and achieve stability in its exchange rate, the ministry said. In April, President Omar al-Bashir  Head of the National Congress Party. He came to power in 1989 when he, as a brigadier in the Sudanese army, led a group of officers in a bloodless military coup that ousted the government of Prime Minister Sadiq al-Mahdi and eventually appointed himself president-for-life. He has fallen out with his Islamic mentor, Hasan al-Turabi, tried to impose shariah on the Christian and animist south, resulting in its secessesion, and attempted to ArabizeDarfur by unleashing the barbaric Janjaweed on it. Sudan's potential prosperity has been pissed away in warfare that has left as many as 400,000 people dead and 2.5 million displaced. Omar has been indicted for genocide by the International Criminal Court but nothing is expected to come of it. was ousted after mass protests. However, it's easy to be generous with someone else's money... Sudan's economy is still haunted by Bashir's legacy -- the penalties imposed for his support of murderous Moslem groups and for the offensive he launched to crush rebels in the western region of Darfur. Because Sudan is still listed by the United States as a state sponsor of terrorism and has $1.3 billion of IMF arrears, it is unable to tap the IMF and World Bank for support. Sudanese banks have struggled to re-establish correspondent relationships with foreign banks. Posted by: trailing wife 2019-07-31 |
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