Sudan inflation hits new record in September as prices spike

Sudan’s annual inflation has hit a new record peak as prices of bre and or staples keep surging, according to official figures released on Tuesday.

country's Central ncy for Statistics said annual inflation in September rose to 212.29% from 166.83% in August. high record was driven by hikes in prices of bre and vegetables, and jump in transportation fares, it said.

Inflation has been rising in Sudan since before military’s overthrow of longtime autocrat Omar al-Bashir in April 2019 amid a popular uprising. ecomy has suffered from deces of U.S. sanctions and mismanment under al-Bashir who h ruled country since 1989 Islamist-backed military coup.

transitional government is struggling to revive ecomy amid a huge budget deficit and widespre shorts of essential goods, including fuel, bre and medicine.

Sudan has close to $60 billion in foreign debt, and debt relief and access to foreign loans are widely seen as its gateway to ecomic recovery. But access to foreign loans is linked to removal of sanctions related to country’s listing by U.S. as a state sponsor of terror. President Donald Trump's ministration has linked removal from list to rmalizing relations with Israel, an issue that has divided county's fragile interim government.

International Monetary Fund last month signed off on government’s ecomic reform program , which could eventually allow Sudan to get debt relief and move ahe with rebuilding battered ecomy. reform program includes a grual lifting of energy subsidies, which eat up 36% of government’s budget.

national currency has plunged dramatically. Sudanese pound has been selling for more than 250 to dollar on black market, with official rate remaining at 57 Sudanese pounds to $1.

coronavirus pandemic and recent seasonal flash floods have ded to calamity. Authorities in September declared an ecomic emergency, said country was a natural disaster area and imposed a three-month state of emergency.

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(Im: Pixabay)