{"id":59108,"date":"2024-05-28T15:31:54","date_gmt":"2024-05-28T15:31:54","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/cash-shortage-hits-east-darfurs-el-daein"},"modified":"2024-05-28T15:31:54","modified_gmt":"2024-05-28T15:31:54","slug":"cash-shortage-hits-east-darfurs-el-daein","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/cash-shortage-hits-east-darfurs-el-daein","title":{"rendered":"Cash shortage hits East Darfur’s El-Daein"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>A severe cash crisis has hit East Darfur’s El-Daein locality, forcing residents to rely predominantly on mobile money and banking applications.<\/p>\n

Residents told Radio Tamazuj of their frustrations with accessing hard currency, adding that this had significantly affected commercial transactions such as sales and purchases of houses.<\/p>\n

Hamid Al-Sadiq Haraz, a resident, said despite having funds in his ‘bankak’ account, he has not been able to withdraw or convert it into cash.<\/p>\n

The current crisis is happening when the country’s currency, the Sudanese pound, is being devalued despite a relative halt in the printing of new currency notes due to the closure of currency printing facilities in the capital, Khartoum.<\/p>\n

Al-Sadiq Ahmed Abdulrahman, the Chairman of the State’s Employers’ Union, downplayed the severity of the cash shortage in El-Daein’s market. He attributed the cash scarcity to market stagnation and reduced commercial activity.<\/p>\n

He said the city is currently witnessing a sharp decline in large financial transactions through the ‘bank’ electronic banking application compared to previous periods.<\/p>\n

Economic expert Yusuf Fadl attributes the cash shortage in El-Daein’s market to the “absence of state intervention” due to the ongoing conflict.<\/p>\n

He explained to Radio Tamazuj that the state traditionally intervened in cases of inflation and deflation through monetary policies or fiscal policy measures.<\/p>\n

Fadl mentioned that the crisis had been exacerbated by the closure of banks in the city and the reliance on the ‘bank’ application for monetary transactions, in addition to the cessation of production due to the war.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. A severe cash crisis has hit East Darfur’s El-Daein locality, forcing residents to rely predominantly on mobile money and banking applications. Residents told Radio Tamazuj of their frustrations with accessing hard currency, adding that this had significantly affected commercial transactions such as sales and purchases of houses. Hamid Al-Sadiq Haraz, a resident, […]<\/p>\n","protected":false},"author":84,"featured_media":59107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-59108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nCash shortage hits East Darfur's El-Daein - South Sudan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/cash-shortage-hits-east-darfurs-el-daein\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cash shortage hits East Darfur's El-Daein\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – South-Sudan. A severe cash crisis has hit East Darfur’s El-Daein locality, forcing residents to rely predominantly on mobile money and banking applications. Residents told Radio Tamazuj of their frustrations with accessing hard currency, adding that this had significantly affected commercial transactions such as sales and purchases of houses. 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