CAIRO (Reuters) - Sudan on Tuesday completed the formation of an 11-member sovereign council that will run the country for a three-year transitional period until elections, a spokesman for the ruling military council told a news conference.

The sovereign council will be led by Lieutenant General Abdel Fattah al-Burhan, who is the head of the transitional military council (TMC), which has ruled Sudan since April, when the military deposed veteran leader Omar Hassan al-Bashir.

Members of the sovereign council and the prime minister will be sworn in on Wednesday.

Last week Sudan's main opposition alliance nominated economist Abdalla Hamdok to serve as prime minister in the country's transitional government.

A power-sharing agreement signed on Saturday paves the way for a transitional government and eventual elections. It provides for a sovereign council as the highest authority in the country but largely delegates executive powers to the cabinet of ministers.

According to the agreement, the opposition coalition is allowed to choose five members of the council and the military another five, with the two sides jointly choosing a civilian as an eleventh member.

The agreement also provides for a 300-member legislative assembly to serve during the transitional period and a cabinet of technocrats.

The main challenge for the new government will be an economic crisis stemming from a shortage of foreign currency, resulting in a cash crunch and long lines for fuel and bread.

(Reporting by Nayera Abdallah, writing by Amina IsmailEditing by Gareth Jones and Cynthia Osterman)