Cash Restrictions Come to Sudan as President Battles ‘Sabotage’
Cash Restrictions Come to Sudan as President Battles ‘Sabotage’
(Bloomberg) -- Sudan declared a limit to the amount of hard currency individuals can hold, saying it was necessary to prevent unofficial trading and economic “sabotage” in the North African country rocked by three months of protests.
An order Thursday by President Omar al-Bashir banned government officials from possessing more than 5 million Sudanese pounds (about $105,000) in hard currency, and ordinary citizens from holding over 1 million pounds. Anyone breaking the law will face at least six months in prison, al-Bashir’s office said in a statement.
To contact the reporter on this story: Mohammed Alamin in Khartoum at malamin1@bloomberg.net
To contact the editors responsible for this story: David Malingha at dmalingha@bloomberg.net, Michael Gunn, Andre Janse van Vuuren
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