2023-05-29 22:21:37
The war, which began on April 15, is paralyzing all sectors of activity in Sudan. In Khartoum, the capital, most banks have lowered their curtains. Others have been looted or hit by strikes. A situation with disastrous consequences, especially as the country is starting to run out of cash. Finding cash in Khartoum has become almost impossible. “There is currently a problem. All the banks in Khartoum have stopped operating because of the war, reports Abubakr Awad Edress Abdalla, financial analyst at the Central Bank of Sudan. He says he testifies as a Sudanese who is suffering from the war, and not as a representative of the establishment for which he works. Most of the people who stayed in the capital have already spent all their savings on cash. Many of them cannot withdraw their money from their bank account. And mobile money transfer apps are also affected by the war. Before the conflict, many Sudanese depended on remittances sent from abroad. These shipments are still possible. But the money cannot be withdrawn. A situation that risks leading to the “dollarization of the Sudanese economy”, worries Abdou Dieng, humanitarian coordinator for the United Nations system and NGOs in Sudan. “If there is no local currency available, the little that might enter the country would be currencies, particularly the dollar. So we risk seeing, as we have seen in other countries, the Sudanese economy become dollarized, which will have a very strong impact on the daily lives of the people. Today, if you make people work, particularly in our sector, you do not have the possibility of having local liquidity to be able to pay them. According to the UN coordinator, the Sudanese economy today is 70% informal. It is therefore almost the entire population that is suffering from this liquidity crisis. “All this fringe of the population today is pushed down. Difficult to buy food or solve everyday problems. And that is just beginning. The consequences might be dramatic if this situation continues. It may still be too early to draw conclusions. But it’s a shock, a big shock that will affect the Sudanese population. A population already tested by galloping inflation. According to the UN, the cost of food has soared by nearly 60% in some parts of the country, including Khartoum. Read also: Fleeing the conflict in Sudan, thousands of South Sudanese students are stuck at the border
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