World Bulletin / News Desk
Sudan on Monday unveiled a raft of economic and financial measures aimed at stopping the sharp decline in the local currency’s value against the U.S. dollar.
Following a high-level meeting chaired by President Omar al-Bashir, government officials threatened to charge black-market currency speculators with “undermining the national economy, financing terrorism and money laundering” -- which together could result in a death sentence.
Prosecutor-General Omer Ahmed Mohamed told reporters after the meeting that the government would “not tolerate” any activities that threatened the national economy.
Shortly afterward, Finance Minister Mohamed Osman al-Rikabi announced a raft of new measures ostensibly aimed at shoring up the Sudanese pound against the greenback.
Measures include the establishment of mechanisms to control the flow of hard currency out of the country, combating the smuggling of gold and other precious commodities overseas and limiting trips by officials to foreign destinations.
The value of Sudan’s local currency has sharply declined against the dollar in recent weeks, despite the lifting in October of longstanding U.S. sanctions on Khartoum.
BIST 100 increases 0.29 percent; US dollar/Turkish lira exchange rate stands at 4.0850
Local units operating in manufacturing industry work at 77.3 pct capacity in April, says Central Bank
Public sector net borrowing falls by 3.5 billion pounds in 2017-18 financial year, says Office of National Statistics
Indices for service, retail trade, construction sectors fall in current month compared with March: Official data
Data monitoring company IHS Markit also flagged a slight slowdown in France, where strikes were interrupting a resurgent boom on the back of government reforms.
Treasury reports central government debt stock in March rises around 15 pct year-on-year, reaching nearly $235 billion
Sales to foreigners amounted to 1,827, 15.8 pct rise year-on-year, according to official report
BIST 100 slips 0.15 percent; US dollar/Turkish lira exchange rate stands at 4.0460
BIST 100 rises 0.01 percent; US dollar/Turkish lira exchange rate drops to 4.0250
Fresh hopes that Donald Trump and North Korea's leader Kim Jong Un will hold a historic summit within months also provided some much-needed optimism.
The fund cautioned that investors and financial markets expect a steady approach to monetary tightening based on the belief inflation will remain relatively tame.
Turkey's assets abroad go up 2.4 percent at end of February 2018, compared to end of 2017: Turkish Central Bank
BIST 100 decreases 0.12 percent; US dollar/Turkish lira exchange rate stands at 4.1020
Hong Kong and China ended down after fluctuating through the morning on data showing the world's number two economy expanded in January-March at the same rate as the previous three months.
For Turkey, Germany is a very important, indispensable partner: Turkish Energy Minister Albayrak says in Berlin