12 Oct 2017
Sudan has for the first time in 20 years begun receiving foreign currency inflows, the central bank said on Wednesday, days after the US government lifted decades-old trade sanctions on the northern African country.
A statement by the bank confirmed the receipt of international transfers in U.S. dollars to two Sudanese banks, in what was the first signal of recovery for Sudan’s battered economy.
The decision to suspend sanctions and lift a trade embargo, unfreeze assets and remove financial restrictions came after a U.S. assessment that Sudan had made progress on counter terrorism cooperation and resolving its long internal conflicts such as in Darfur.
You can claim CPD minutes for this content, by signing up to our CPD WalletFREE CPD Wallet