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Sudan eliminates official customs dollar exchange rate

2
Jul

Sudan eliminates official customs dollar exchange rate

Friday, July 2, 2021

Sudan’s Finance Minister announced that the government was committed to cancelling the customs exchange rate used to determine import duties, as the final step in a devaluation of the local currency. This decision comes amid a series of continuous economic reforms which have been encouraged by the IMF and other donors.

By devaluing the currency, Sudan hopes it will emerge from its economic crisis.

Acting as leading Sudanese Counsel, SCLO has previously worked with a Magic Circle law firm advising foreign creditors on the external debt of the Republic of Sudan.

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July 2, 2021

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