Email
Print
Save
November 18, 2012 (KHARTOUM) – The Sudanese pound has registered a sharp decline in value against hard currency following news that the resumption of exporting South Sudan’s oil via Sudan might be delayed due to failure in security talks between the neighboring countries.
The US dollar traded in Sudan’s black market of hard currency for 6.3 pounds on Sunday, compared with 5.5 after Sudan and South Sudan signed a deal in the Ethiopian capital Addis Ababa to resume the latter’s oil exports through Sudan.
Failure in talks between the two countries this week to agree on the implementation of another deal concerning border security saw Khartoum renewing its threats not to allow resumption of oil exports and Juba saying it decided to reschedule plans to resume oil production.
Sudan says it wants South Sudan to sever its ties with the rebel Sudan People’s Liberation Movement North (SPLM-N), which is fighting Khartoum in the border regions of South Kordofan and Blue Nile, before allowing Juba to start using its pipeline infrastructure and export terminals.
The rise in the dollar price tends to lead to exorbitant increases in the prices of basic commodities in the Sudanese markets.
Sudanese authorities clamped down in June and July this year on a number of protests sparked by inflation and austerity measures undertaken by the government to make up for the loss of three quarters of its oil revenues to South Sudan when the latter seceded last year.
(ST)
Latest Comments & Analysis
The better approach to reconciliation 2013-05-17 06:07:06 By Zechariah Manyok Biar May 16, 2013 - Some of you who might have read my previous articles know that I promised some weeks ago to write separately on the topic of peace and reconciliation that (...)
OIL: is it a curse or a blessing in South Sudan? 2013-05-17 06:04:54 By Jacob K. Lupai May 16, 2013 - In the late 70s when for the first time oil was discovered in Southern Sudan there was euphoria that poverty would be a thing of the past, replaced by a high (...)
The misapprehension of peace in the context of conflict resolution 2013-05-16 11:40:39 By Ngor Arol Garang May 16, 2013 - Political leaders and citizens with an interest in politics within the Bahr el Ghazal region will come together for a one week conference on Wednesday, where (...)
MORE