Sudan bans 130 import-export companies from banking transactions for failing to pay foreign currency revenues to government

Sudan’s central bank banned 130 import-export companies from all kinds of banking transactions, according to a statement cited by Anadolu Agency.

The ban comes in response to the companies’ failure to pay their revenues to the Sudanese government, the bank added in its statement.

The government obtains exports’ revenues and gives companies the equivalent in the Sudanese currency.

The government depends on exports’ revenues, which reached $3.1 billion in 2017, as a key source of foreign currency for the country.

Sudan has suffered from a foreign currency since the south seceded and gained independence in 2011, which caused Khartoum to lose 75% of its oil resources, which already brought the country 80% of its foreign currency, according to Anadolu Agency.

Read: 2018 is the year that could make or break Sudan