The Central Bank of Sudan is making efforts to lower the inflation to one digit and control prices rise.
Governor Sabir Mohammad al-Hassan told Reuters that the bank wanted to bring the annual inflation to 7-9 percent, from around last month’s 12 percent.Mr. al-Hassan said he plans to achieve the inflation cut by using a tighter monetary policy.
He added that the Sudanese Pound will be linked to a currency basket that includes the US Dollar, Euro, English Pound and China’s Yuan.
He attributed the hike of prices to imported inflation, a weak Sudanese Pound, and the economic policies put in place to counter the effects of the global downturn.
Mr. al-Hassan explained that the Central Bank is making plans to switch from an oil-dependant economy ahead of the 2011 referendum on South Sudan self-determination.