BY SUDAN TRIBUNE Sudan’s President Omer al-Bashir relieved his foreign minister Ibrahim Ghandour said the official Sudan News Agency (SUNA) on Thursday evening. In a very short wire, SUNA reported that al-Bashir issued a presidential decree removing Ghandour from his position. Also, the decision was announced in less than three hours after the return of […]
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“It is a war against corruption everywhere. It is a war at its beginning and it will not stop until its goals are achieved by ending gold smuggling, currency speculation and monopolization of essential commodities” President Al-Bashir. BY AFP President Omar al-Bashir vowed on Monday to launch a “war on corruption” in a bid to […]
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The Sudanese pound plummeted to record lows on the black market this year after it was devalued to 18 per dollar from 6.7. Now it’s at 31.5 BY YVONNE RARIEYA | CGTN AFRICA Sudan’s central bank on Sunday announced it will devalue the local currency to 31.50 Sudanese pounds against the US dollar, the second […]
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BY ESAT NEWS Ethiopia’s debt has reached a whooping $23 billion while export earnings is in downward spiral coupled with the increase in payments to loans. In an article published in Addis Admas, a weekly local Amharic published in Addis Ababa, the writer Yohannes S. also indicates that the country’s payment to interest on loans […]
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By TesfaNews, The National Bank of Eritrea issued a legal notice No. 124/2015 to replace all denomination of the existing Nakfa currency notes with a new legal tender Nakfa currency notes. The unprecedented step that aimed at stimulating the economy first by regulating the circulation of the national currency is expected to effectively curb the rampant money […]
Continue ReadingBy TesfaNews, Recently we have been witnessing two self-contradictory statements that describe Ethiopia’s economic growth. One calls Ethiopia as one of the world’s fastest growing economies and the other as a country with more than half of its young workers out of a job. Both statements cannot be true at the same time as it […]
Continue ReadingThe Reporter, In the face of runaway inflation in the country’s economy, which surged to 39.2 % last month, the National Bank of Ethiopia has decided to abandon its long serving 100 Birr notes with 200 Birr notes as its highest legal tender. The bank further disclosed that a currency with 100 birr note as […]
Continue ReadingEthiopia’s Runaway Inflation is now at 39.2%; Food prices up by 50%; Transport and Housing up by 40% VOA, Ethiopians awoke Tuesday to news that food prices had increased nearly 50 % over the past year. They didn’t need to be told. Even middle-class Ethiopians are finding it more difficult to feed their families. Ethiopia’s […]
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