Economic Performance Monitoring Committee Meeting: Can Digital Payments Become a Lever for Economic Stability?

Dr Marwa Fouad Qabbani

The Economic Performance Monitoring Committee, chaired by Lieutenant General Engineer Ibrahim Jaber, a member of the Transitional Sovereignty Council, met at the Central Bank of Sudan headquarters on Tuesday, 27 October 2026. It took place at a time when the Sudanese economy faces challenges, including foreign currency shortages, declining resources, and the expansion of economic activity outside the formal system.

The meeting discussed several key issues, including attracting savings from Sudanese expatriates, export proceeds, broadening the tax base, electronic revenue collection, establishing a single window at ports and border crossings, and trade cooperation with South Sudan.

As important as these issues are, the real challenge lies in determining whether they can tangibly affect exchange-rate stability and improve economic resources, rather than simply resulting in the monitoring of procedures and assigned tasks.

A noteworthy paradox emerges here. Data from Electronic Banking Services (EBS) indicate that transfers made using the Basic Bank Account Number (BBAN) have grown by approximately 52%, according to the published comparison, with the number of transactions exceeding 234 million. This points to the expanding use of digital banking services despite the conditions created by the war.

However, growth in electronic transactions does not necessarily mean increased foreign currency inflows, particularly since a substantial proportion of these transactions occur in Sudanese pounds and within the domestic banking system. This highlights the need to move beyond digitising transfers and use technology effectively to attract expatriate savings and facilitate international remittances.

Sudanese expatriates represent an important strategic resource. Historical estimates suggest their remittances approached US$3 billion annually before the war. Recovering these resources, however, requires rebuilding confidence in banks, offering attractive and transparent exchange rates, reducing transfer fees, and developing foreign-currency savings and investment accounts and products. It also requires making it easier to open and manage accounts electronically from abroad.

The importance of this issue becomes even clearer when we consider the trade balance. Sudanese exports amounted to approximately US$1.816 billion in the first half of 2026, compared with imports worth around US$4.517 billion, resulting in a trade deficit of US$2.701 billion. Gold accounted for approximately 62.5% of exports, highlighting the need to diversify the export base and strengthen the contribution of agriculture, livestock and manufacturing industries.

This makes the issue of export proceeds particularly central. Increased exports will not deliver their full economic benefit unless the proceeds are channelled through official banking channels. This requires addressing the exchange-rate gap, combating smuggling and providing incentives for exporters.

Electronic revenue collection, broadening the tax base and the single-window system are also important tools for strengthening public revenues, reducing financial leakage and lowering the cost of trade. However, increased revenue collection must not become an additional burden on citizens and productive sectors. It must also be accompanied by genuine integration between the databases of customs authorities, tax agencies, banks and government institutions.

The trade protocol with South Sudan also represents an opportunity to stimulate regional trade. Still, it requires clear mechanisms for banking settlements and measures to facilitate the movement of goods and financial transactions between the two countries.

The issues before the Economic Performance Monitoring Committee require an integrated vision that links monetary, fiscal and trade policies with digital transformation. This should be supported by performance indicators measuring the volume of expatriate savings attracted, the proportion of export proceeds repatriated, revenue collected electronically and the growth of digital payments.

Strategic Planning and Digital Transformation Expert

Shortlink: https://sudanhorizon.com/?p=19642