October 19, 2021
Economy

World Bank chief: Sudan improving from situation of shortages | Business and Economy News

Malpass, first World Bank head to visit the country in decades, advises patience with transition Sudan is going through.

Sudan is making progress as it reconnects with the global economy, but patience is needed as the country seeks to tackle shortages and attract investment, the head of the World Bank said on his visit to the country.

David Malpass landed in capital Khartoum late on Wednesday in what is the first visit for a World Bank president to the East African nation in more than 50 years, according to Sudanese prime minister’s office.

Sudan’s economy has been mired in a crisis that led to the overthrow of former leader Omar al-Bashir in 2019 and has continued since.

Last month, inflation slowed slightly to 388 percent and a sharply devalued currency has shown signs of stabilising, but many Sudanese are struggling with poverty, shortages of medicines, and power cuts.

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