Economic Committee Adopts New Measures to Stabilize Exchange Rate

Khartoum – Sudanhorizon
The Higher Economic Committee, in its meeting on Thursday chaired by Prime Minister Kamil Idris and attended by ministers of the economic sector, issued a number of decisions aimed at stabilizing the exchange rate. This followed assurances regarding the economic situation, the availability of strategic goods, and the Central Bank’s foreign currency reserves.

The local currency is experiencing a dramatic decline against a basket of foreign currencies, with the value of the Sudanese pound falling to 3,800 against the dollar in the parallel market. This comes amidst a sharp decline in production and exports as the war drags on.

The Sudan News Agency quoted Graham Abdel Qader, Undersecretary of the Ministry of Culture, Information, and Tourism, as saying that the committee approved measures to control the import of luxury goods and activate the role of ministries to maximize and diversify exports.
These measures include policies to encourage expatriates to transfer funds through official channels, controlling export proceeds, rationalizing government spending, preventing illegal levies, continuing currency exchange in the remaining areas, and mandating that government agencies use electronic collection methods and complete foreign trade procedures through the “Baladna” platform to enhance transparency and combat corruption.

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