Sudan Exports More Gold to Boost Foreign-Currency Reserves
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Sudan boosted gold exports to offset the loss of oil production when South Sudan seceded in July and ensure it has sufficient foreign-currency reserves, central bank Vice President Badr Eddin Abbas said.
The North African country’s reserves currently stand at $10 billion, enough to cover four months worth of imports, Abbas told reporters today in Khartoum, the capital. Sudan experienced a “sharp shortage” of foreign currency after the loss of oil revenue when South Sudan seceded, the Sudan Tribune news website reported on Nov. 1.