CAIRO (Reuters) - Sudan appointed a prominent banker to head its central bank on Sunday, state news agency SUNA said, in the latest sign of an overhaul of senior posts in the Arab-African state hit by a shortage of hard currency.
Sudan's economy has been in turmoil since South Sudan seceded in 2011, taking with it about three-quarters of the country's oil production. Oil is the main source of government revenues and dollars, needed for food and other imports.
"President Omar Hassan al-Bashir issued a decree to appoint Abdel Rahman Hassan, head of (Khartoum's state-run) Omdurman National Bank since 2006, as new central bank governor," SUNA said in a statement.
The central bank devalued the Sudanese pound by 22.6 percent against the dollar in November, the second such move in just over a year.
The scarcity of dollars had become so bad that the central bank had started using up the general reserves of commercial banks, which are meant to be kept as deposits with the central bank, a financial source has told Reuters.
Hassan is a board member of Sudan's Bank Deposit Security Fund (BDSF) and a representative of the union of Sudanese banks.
In September the government lifted most fuel subsidies to help overcome a budget crisis. The move doubled pump prices overnight and triggered violent protests in which dozens of people were killed and more than 700 people arrested.
In a government shake-up earlier this month, Bashir named Lieutenant General Bakri Hassan Saleh - a close ally who helped him stage his 1989 coup and crush many rebellions - as first vice president, replacing veteran Islamist Ali Osman Taha.
Analysts said the change showed Bashir's desire to turn to more trusted allies to his power base in the military.
The finance, oil and interior ministers were also changed in the reshuffle, along with other ministers and top officials.
(Reporting by Omar Fahmy, Asma Alsharif and Shadia Nasralla in Cairo and Khaled Abdel Aziz in Khartoum, writing by Yasmine Saleh)
Source http://uk.news.yahoo.com/sudan-appoints-central-bank-governor-144829106--business.html
Newer articles:
- Fighting erupts between South Sudanese troops- witnesses - 16/12/2013 07:48
- Heavy gunfire overnight in South Sudan capital - 16/12/2013 07:28
- South Sudan 'quashes coup attempt' - 16/12/2013 06:42
- Ugandan dissident claims Museveni offered two million Ugandans to vote in favour of S. Sudan independence - 16/12/2013 05:11
- Sudan names new central bank governor to take on crisis - 15/12/2013 17:17
Older news items
- Khartoum transports 1,345 South Sudanese back home - 14/12/2013 23:38
- Mary's Sudan goodbye: 'I will not come back' after going South - 14/12/2013 17:57
- Fight hunger with goats - 14/12/2013 16:26
- Shells hit Sudan's South Kordofan capital: residents - 14/12/2013 09:58
- SPLM leaders postpone Saturday public rally - 14/12/2013 02:56
Latest news items (all categories):
- The Jieng’s Actions Indicate that they Desire Independence - 08/07/2025 20:42
- Uganda, South Sudan Commit to Strengthening Trade and Bilateral Relations - 08/07/2025 20:06
- South Sudan's president fires army chief after seven months in post - 08/07/2025 20:04
- U.S. entrepreneurs want to tear up the international aid system’s rulebook - 08/07/2025 19:59
- برنامج الأغذية العالمي يسقط مساعدات جوا بجنوب السودان - 08/07/2025 19:47
Random articles (all categories):
- East African bloc urges South Sudan to free arrested officials - 13/03/2025 12:56
- South Sudan government accused of violating ceasefire - 17/09/2018 07:01
- Opinion | Reforms in South Sudan’s ministry of foreign affairs - 09/02/2020 01:40
- South Sudan gain Caf membership - 10/02/2012 12:04
- AU commission dismisses leaked draft on S. Sudan crimes - 17/03/2015 07:58
Popular articles:
- Who is the darkest person in the world, according to Guinness World Record? - 25/10/2022 02:34 - Read 118789 times
- No oil in troubled waters - 25/03/2014 15:02 - Read 22810 times
- School exam results in South Sudan show decline - 01/04/2012 17:58 - Read 22663 times
- Top 10 weakest currency exchange rates in Africa in 2023 - 19/07/2023 00:24 - Read 21966 times
- NDSU student from South Sudan receives scholarship - In-Forum - 29/09/2012 01:44 - Read 19720 times