India's Budget 2025-26 cOVEAGE
Presented by:
spot_img

UAE, Saudi Arabia commits $3 billion as financial aid to Sudan

Date:

Trending

Saudi Arabia and the United Arab Emirates said they had agreed to send Sudan $3 billion worth of aid, throwing a lifeline to the country’s new military leaders after protests led to the ousting of president Omar al-Bashir.

- Advertisement -

The two Gulf Arab countries will deposit $500 million with the Sudanese central bank and send the rest in the form of food, medicine and petroleum products, their state news agencies said in parallel statements.

The aid comes amid wrangling between the Transitional Military Council (TMC) and protesters and opposition groups who are demanding that civilians lead a two-year transitional period.

- Advertisement -

The protesters who have kept up a sit-in outside the Defence Ministry since Bashir was removed on April 11. They have demonstrated in large numbers over the past three days, pressing for a rapid handover to civilian rule.

TMC head Abdel Fattah al-Burhan told state TV that the formation of a joint military-civilian council – one of the activists’ demands – was being considered.

“The issue has been put forward for discussion and a vision has yet to be reached,” he said.

“The role of the military council complements the uprising and the blessed revolution,” said Burhan, adding that the TMC was committed to handing power over to the people.

But a coalition of protesters and opposition groups said the TMC was not serious about handing over power to civilians, describing the council as an “extension of the old regime”.

“We have decided to opt for escalation with the military council, not to recognise its legitimacy and to continue the sit-in and escalate the protests on the streets,” Mohamed al-Amin Abdel-Aziz, of the Sudanese Professional Association, told one of the largest crowds outside the defence ministry.

KOBAR PRISON

Burhan also confirmed for the first time that Bashir and a number of former officials, including presidential aide Nafie Ali Nafie, acting party head Ahmed Haroun and former first vice president Ali Osman Taha, are being held at a high-security prison in Khartoum North.

“All of them are at Kobar prison,” he said, adding that “a large number of symbols of the former regime suspected of corruption will stand trial”.

Burhan said authorities had found 7 million euros ($7.8 million) in Bashir’s home, along with $350,000, slightly more than previously reported.

The aid from Saudi Arabia and the United Arab Emirates is the first major publicly announced assistance to Sudan from Gulf states in several years.

“This is to strengthen its financial position, ease the pressure on the Sudanese pound and increase stability in the exchange rate,” the Saudi Press Agency said.

Sudan’s state news agency said the central bank strengthened the Sudanese pound to 45 pounds to the dollar from 47.5, in a measure that coincided with the sharp rise in the price of the pound against the dollar on the parallel market.

The two Gulf states have ties with Burhan and his deputy, Mohamed Hamdan Dagalo, through their participation in the Saudi-led coalition fighting in Yemen.

Sudan has been suffering from a deepening economic crisis that has caused cash shortages and long queues at bakeries and petrol stations.

Analysts have blamed the crisis on economic mismanagement, corruption, and the impact of U.S. sanctions, as well as the loss of oil revenue when South Sudan seceded in 2011.

In October 2017, the United States lifted some trade and economic sanctions on Sudan, but Sudan remained on the list of countries that the United States considers to be sponsors of terrorism.

Burhan said a committee could travel to the United States for discussions about lifting Sudan from the list by next week. Washington has said Sudan will not be removed from the list as long as the military is in power.

The designation makes Sudan ineligible for desperately needed debt relief and financing from international lenders.

The United States agreed in November to talks with Bashir’s government on how to get Sudan removed from the list, but no resolution was reached before his overthrow.

Over the last few years, Sudan’s cash-short government expanded money supply to cover the cost of expensive subsidies on fuel, wheat and pharmaceuticals, causing annual inflation of 73 percent and the Sudanese pound to plunge against the dollar.

THE SNAPSHOTS, IN YOUR INBOX

Get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

More Articles

The Evolution of Gaming: Key Trends Shaping the Industry in 2025

The gaming industry in 2025 is a mosaic of innovation, creativity, and cultural impact. As it continues to expand, gaming is no longer just...

Manual Trading vs AI Trading – What Fund Managers Should Know

Trading floors that once thrived on chaos and human interaction have given way to silent, algorithm-driven systems. Gone are the days when intuition and instinct ruled the markets. Today, success hinges on speed, analytics, and integration of technology. As financial markets transform at a...

Budget 2025 Expectations: Delayed Payments and Skill Gaps Dominate MSME Sector’s Wishlist

As India’s Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2025, expectations...

Union Budget 2025 Expectations: Investors and Startups Call for Tax Relief, EV Incentives & Support for Creator Economy

As Finance Minister Nirmala Sitharaman prepares to unveil Budget 2025, there is a strong...

Budget 2025 Expectations: GST Overhaul Tops Budget 2025 Wishlist for Business and Global Competitiveness

As India prepares for the Union Budget 2025, business leaders are sharing their hopes...

Budget 2025 Expectations: FHRAI Expects Reforms to Boost Hospitality and Tourism Sector

The Federation of Hotel & Restaurant Associations of India (FHRAI), has outlined its expectations...

Top Cybersecurity Practices for Small Businesses: Why a VPN is a Must-Have

In today's hyperconnected world, small businesses face a growing number of cybersecurity threats that...

Budget 2025 Expectations: Taabi Mobility CEO Pali Tripathi says, Logistics Sector Looks for Tech and Sustainability Focus in India’s Budget 2025

With Union Budget 2025 approaching, the logistics industry highlights the need for government action...

Finbok Reviews | How Finbok A ttracts and Retains New Traders Around the Globe in 2025

In the competitive world of online trading, choosing the right platform is essential for traders at any level. With a wide range of options...

HCLTech Partners with Carrix to Modernize Global Port Operations Using AIoT

HCLTech, a leading global technology company, today announced an agreement with Carrix, the world’s...

FHRAI Flags Concerns Over Zomato and Swiggy’s Private Label Food Delivery Business

The Federation of Hotel & Restaurant Associations of India (FHRAI), has expressed serious concerns...

Relata’s Hyper-Realism: CEO Samudragupta Talukdar On Personalized Home Buying Experiences

In an exclusive conversation with TechGraph, Samudragupta Talukdar, Founder and CEO of Relata, a...

Powering the Future: How Digitisation is Transforming Power Transmission & Distribution

As India, the third-largest producer, and consumer of electricity worldwide with over 442 gigawatts...

Equal, OneMoney Appoints Former Supreme Court Judge Justice B.N. Srikrishna as Chairman

Equal, one of India’s leading secure data sharing platforms, and its strategic investee OneMoney have appointed Justice B.N. Srikrishna, former Supreme Court Judge as...

ECO Hotels & Resorts Ltd Opens 60 Room Property In Bengaluru

ECO Hotels & Resorts Limited, a stock exchange-listed mid-segment hotel chain has today said it has opened a 60-room property in Bengaluru under its ExcoExpress brand. "The company plans to launch two more properties in Nagpur and Kota by early 2025, offering 44 and 63...

Vehant Technologies Secures $9 Mn from True North via NCD

Vehant Technologies, a provider of AI-driven security and surveillance solutions, has raised $9 million...

Botanic Healthcare draws $30 Mn in fresh round funding

Telangana-based nutraceutical company, Botanic Healthcare today announced that it has raised ₹250 crore (approximately...

HR Tech Impact on Employee Learning and Development

In today’s fast-paced world of work, learning and development (L&D) are no longer just...

Vinsys IT Expands In Saudi Arabia, Opens New Office in Dammam

Vinsys IT Services India Ltd. (NSE - SME: VINSYS), a global IT and software...

Proxgy Snaps $3 Mn from Indian Cricketer Ajinkya Rahane and others

Proxgy, a Gurugram-based technology company specializing in virtual assistance and concierge services, has announced...

Groyyo Promotes Nitin Jain to Co-founder

B2B manufacturing technology company Groyyo has announced the promotion of its Managing Director (Exports),...

Securing the Future of AI: Nuvepro CEO Giridhar LV on Generative AI & a Human-First Approach

During a conversation with TechGraph, Nuvepro Co-founder and CEO Giridhar LV discussed the company's...

Reshaping India’s Farming Future: Balwaan Krishi’s Rohit Bajaj On Driving Agricultural Change

Speaking to TechGraph, Rohit Bajaj, Co-Founder of Balwaan Krishi, discusses the company’s commitment to...

What is RTP and How Does It Affect Slots Winnings?

If you’ve ever played a slot game, you’ve likely come across the term "RTP."...

Relata’s Hyper-Realism: CEO Samudragupta Talukdar On Personalized Home Buying Experiences

In an exclusive conversation with TechGraph, Samudragupta Talukdar, Founder and CEO of Relata, a...

Delhi High Court Shields Upstox Trademark Rights, Targets Telegram Violators

Delhi High Court has granted an interim injunction in favor of RKSV Securities India...

GPS Renewables Appoints Central Bank of India ex-MD Homai Ardeshir Daruwalla As Independent Director

GPS Renewables, an India-based biogas engineering company on Monday announced the appointment of...

N Space Tech Launches Maiden Payload SwetchaSAT-V0 on ISRO’s POEM-4

N Space Tech, an India-based defense and aerospace startup, has successfully launched its first...

Muxcap: Making Bold Moves in Innovation

Muxcap is on a mission to transform the online trading experience by combining cutting-edge...

Powering the Future: How Digitisation is Transforming Power Transmission & Distribution

As India, the third-largest producer, and consumer of electricity worldwide with over 442 gigawatts...

Reshaping India’s Farming Future: Balwaan Krishi’s Rohit Bajaj On Driving Agricultural Change

Speaking to TechGraph, Rohit Bajaj, Co-Founder of Balwaan Krishi, discusses the company’s commitment to...

Driving ROI Through AI: CEO Dipal Dutta on RedoQ’s Hybrid Approach to Automation

Speaking to TechGraph, Dipal Dutta, CEO and Founder of RedoQ, explained how the company...

What is RTP and How Does It Affect Slots Winnings?

If you’ve ever played a slot game, you’ve likely come across the term "RTP."...