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Sudan takes austerity steps, launches new currency

By REUTERS

JULY 12, 2011 12:41

KHARTOUM - Sudanese President Omar Hassan al-Bashir said on Tuesday austerity measures would be presented to parliament to compensate for the loss of oil revenues after the south's secession and a new currency would be issued.

"We have placed an emergency program for the next three years," Bashir told parliament, adding that an "austerity measures package" had been started and a revised budget with no new taxes or duties would be presented to the assembly.

"The package of the economic measures includes issuing a new currency in the coming days," he said.

The south has said it will shortly circulate a new currency.

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