Sudan to receive $500 mln deposit from UAE

Sudan's President Omar Hassan al-Bashir with the Crown Prince of Abu Dhabi Mohammed bin Zayed bin Sultan Al-Nahyan

Sudan's central bank governor signed on Thursday an agreement with the Abu Dhabi Fund for Development for a $500 million deposit, Sudan's state news agency SUNA reported.

Sudan's economic problems have been building since the south seceded in 2011, taking with it three-quarters of the country's oil output, its main source of foreign currency and government income. SUNA gave no more details on the deal.

US President Barack Obama has announced, on Friday, lifted some restrictions on Sudan economic sanctions, which referred to the developments "positive" during the last six months.

He noted Obama, in a letter to Congress, to Khartoum's cooperation with Washington in "dealing with regional conflicts and the threat of terrorism," as he put it.

Sudan suffers from a deepening economic problems since the secession of the south in 2011.

Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53