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01:36
Sudan: War-torn Sudan faces economic collapse as currency plummets
Khartoum, Sudan - Recent
Storyline:
Sudan is facing economic turmoil as its currency plummets in value following the ongoing conflict between the Sudanese Armed Forces (SAF) and the paramilitary Rapid Support Forces (RSF).
The Sudanese pound has plummeted to nearly a quarter of its value against the US dollar since clashes erupted in April last year. In the capital Khartoum, residents returning after the military takeover are now experiencing the consquences of the collapsing currency firsthand.
The prolonged war has severely impacted the financial system, leading to rising transport and commodity prices. Sudan has lost 60 percent of its economy and production as the result of the raging conflict across the country, according to the World Bank report
The war has also dealt a blow to the country's gold exports, which are a main source of its foreign currency. Other heavily hit sectors include the exportation of gum, cereals, production oil and agriculture.
"The high demand for foreign currencies by the government to import basic commodities has resulted in currency fluctuations and so consumers have to pay more. And the ongoing conflict has further deteriorated the situation, resulting in a significant decline in economic activity," said Fathi Mohamed, an independent analyst.
Sudan's conflict is escalating everyday without any prospect of peace in the near future. Experts have warned that the pound will continue to decline as the skirmishes are damaging the economy amid a severe scarcity of foreign currencies, a trend which will impact millions of lives in the country.
Shotlist:
Khartoum, Sudan - Recent:
1. Various of people at market;
2. SOUNDBITE (Arabic, dubbed in English) Hawa Ahme, local resident (ending with shot 3):
"The situation is indeed safer and people are returning home as they can't afford high rental cost in the states, but food and other commodities are extremely high and there's no work here. So it's a really complicated situation."
3. People at market;
4. Bus driver attracting customers;
5. SOUNDBITE (Arabic, dubbed in English) Motasim Aldaw, bus driver (starting with shot 4):
"The movement of people and transportation is better, but fuel prices and living costs are very high and changing everyday. We're seeing another economic war inside the war."
6. Various of gold accessories shop, people;
7. Various of worker pouring gum out of bag;
8. SOUNDBITE (Arabic, dubbed in English) Fathi Mohamed, independent analyst:
"The high demand for foreign currencies by the government to import basic commodities has resulted in currency fluctuations and so consumers have to pay more. And the ongoing conflict has further deteriorated the situation, resulting in a significant decline in economic activity."
9. Vendor packing vegetables;
10. Vendor counting money;
11. Vendors at market;
12. Person holding plastic bag.
[Restrictions: No access Chinese mainland/Al-Arabiya TV/Middle East Broadcasting Center]
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