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Bread Crisis in Sudan Hindering Government Efforts

A Sudanese man works at a bakery in the capital Khartoum on Friday. (AFP)
A Sudanese man works at a bakery in the capital Khartoum on Friday. (AFP)
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Bread Crisis in Sudan Hindering Government Efforts

A Sudanese man works at a bakery in the capital Khartoum on Friday. (AFP)
A Sudanese man works at a bakery in the capital Khartoum on Friday. (AFP)

Bread lines remain a familiar scene in the main streets of Khartoum, although the Ministry of Finance and Economic Planning announced that it was increasing subsidies of a sack of flour from 100 to 250 Sudanese pounds (around USD14).

A Russian ship loaded with wheat had already arrived in Port Sudan.

Sudan has been witnessing a crisis in providing wheat to bakeries for a month now due to the scarcity of foreign monetary resources in the Central Bank of Sudan (CBS), which was forced to resort to commercial banks to fulfill the country’s needs of essential products, such as wheat and fuel.

The ministry demanded that bakeries increase their daily production to exceed 100,000 sacks to cover the needs of the capital and other states.

The security authorities and popular forces called for taking precautions to maintain the subsidized wheat and prevent smuggling.

Tariq Shalabi, State Minister at the Ministry of Finance and Economic Planning, said that the country seeks to provide bread given that it is a strategic product that is linked to the lives of citizens.

He pointed out that the past period saw several policies to resolve this crisis.

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Egypt’s Net Foreign Assets Rise in February

Hotels, banks and offices on the Nile River in Cairo (Reuters)
Hotels, banks and offices on the Nile River in Cairo (Reuters)
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Egypt’s Net Foreign Assets Rise in February

Hotels, banks and offices on the Nile River in Cairo (Reuters)
Hotels, banks and offices on the Nile River in Cairo (Reuters)

Egypt’s net foreign assets (NFAs) increased by $1.48 billion in February, marking the second monthly rise this year following consecutive declines in the final three months of 2024, according to data released by the Central Bank of Egypt (CBE).

Based on official exchange rates provided by the CBE, calculations by Reuters showed that net foreign assets rose to the equivalent of $10.18 billion at the end of February, up from $8.70 billion in January.
A banking source attributed the increase to growing foreign investor purchases of Egyptian treasury bills. January also saw an uptick in foreign assets after the government issued $2 billion in international bonds—the country’s first dollar-denominated bond sale in four years.

Further growth in foreign assets is expected in March after the International Monetary Fund approved a $1.2 billion disbursement to Egypt, following the fourth review of its $8 billion economic reform program signed in March 2024. Last month’s IMF approval also unlocked an additional $1.3 billion under the Fund’s Resilience and Sustainability Facility.

Following Egypt’s fourth currency devaluation in March 2024, the overall net foreign asset position of Egyptian banks swung into surplus by about $14.29 billion in May—the first surplus in nearly 28 months. This turnaround came after the deficit had ballooned to nearly $29 billion by the end of January, just before the central bank’s latest reform measures.

However, the net foreign position of commercial banks alone (excluding the central bank) turned negative again in August due to renewed demand pressures for US dollars, just three months after the broader recovery.

In February, both the central bank and commercial banks recorded an increase in foreign assets. While the CBE’s foreign liabilities also grew during the month, those of commercial banks declined.