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Fuel, Bread Crisis Worsens Across Sudan

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Sudan

Former banker and economic analyst in Sudan, Hafiz Ismail has described the situation in the country a very serious one, as the Sudanese Pound value has continued to decrease against other foreign currencies, especially the US Dollar.

The crisis of bread and fuel, particularly diesel, has escalated to the highest levels in the capital, Khartoum and the states amid surge of prices for essential commodities in the markets.



The price of a pint of milk in Khartoum has amounted to SDG 12 (*$0.43), an egg to SDG 90 ($3.20) and a kilo of lamb SDG 220 ($7.80)

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Various bakeries in Khartoum are experiencing long queues for bread and fuel stations are seeing long queues of vehicles to get fuel amid farmers’ complaints in the states about the failed agricultural season because of scarcity of diesel and the continued rise in the price of the Dollar against the Sudanese Pound.

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Crime

Ugandan Woman Bags 20 years jail term for killing husband

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A Uganda High Court has sentenced a 27-year-old woman, Jackline Nakku, to 20-years in jail for murdering her husband on Valentine’s Day in 2018.

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The High Court in Mukono District in central Uganda found her guilty of murdering her husband Eric Kiddu after hitting him several times on the head with an iron bar.

After the murder Nakku attempted to make the killing appear to be the result of an attack by unknown people by screaming and running to neighbours to ask for help. His body was later found in a pool of blood with a panga and brick besides it, the Daily Monitor reported.

The couple had quarrelled shortly before the bloody encounter with a misunderstanding leading to Kiddu’s death.

Nakku was advised by the judge to appeal the sentence if she was dissatisfied as relatives of both husband and wife argued outside the court, trading accusations.

-IOL News

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Business

Egypt Ranks 2nd Amidst World Emerging Economies.

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Amidst the 21 most flexible emerging economies worldwide, Renowned Bloomberg has listed Egypt’s economy behind Philippines in the face of the global trade war.

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In its analysis, the Bloomberg agency relied on a set of criteria, most important of which being the GDP growth rate, local currency performance against international currencies, foreign exchange reserves, credit rating, and finally current account performance.

The Egyptian cabinet’s Media Center said in a statement on Monday that indicators of the Egyptian economy improved significantly during the recent period, most notably the choice of the Egyptian pound as the second-best performing currency in the world against the US dollar this year so far, according to Bloomberg.

Of these indicators, GDP growth in the third quarter of fiscal year 2018/2019 reached 5.6 percent, alongside a rise in net foreign exchange reserves by the end of May 2019 to US$44.3 billion, with the current account deficit as a percentage of the GDP declined from 6.1 percent in 2016/2017 to 2.4 percent in 2017/2018.

The statement added that the Egyptian credit rating achieved its best level since 2011 after the agencies of Moody’s, Fitch and Standard & Poor’s upgraded Egypt’s credit rating.

-Egyptian Independent


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