Khartoum’s efforts to attract foreign businesses back to the country to help revive its ailing economy has come as a cropper since there is no visible signs of FDI getting boosted. As a one off phenomenon, recently four U.S diplomats opened accounts at a Sudanese bank for the time in decades. It is more of a symbolic gesture to show faith in the financial system of the country. But experts feel that one swallow will not make summer. Investors will look forward to have more sustained signs to come out from the country.
Significantly, the US lifted the economic sanctions in 2017 and is keenly scouting international banks to lend to the debt ridden country to make its tryst with the development process. Despite that foreign investors are wary about investing in that country mainly driven by the guarantee of security for their investments. It also started with an economic crisis in December 2018 as a result of a nationwide protest leading to the ouster of long-time leader, Omar al-Bashir. The East African nation now has a sovereign council, which is a nation is a joint civilian-military body, demanding civilian rule.
