Announcement of a New Mechanism for Sudanese Exports

Port Sudan – Sudanhorizon

Minister of Finance and Economic Planning Dr. Jibril Ibrahim revealed a plan to establish a new mechanism (portfolio) for exports, including gold.

The minister announced – during an expanded meeting attended by the Ministers of Minerals, Industry and Trade, the Governor of the Central Bank of Sudan, the State Minister of Finance, and the Undersecretary of the Ministry – that government arrangements are underway to implement the Prime Minister’s decision on gold exports. The measure aims to safeguard gold as an important economic resource and prevent its smuggling.

He pointed out that the Central Bank of Sudan will continue purchasing and exporting gold through the mechanisms previously agreed upon until the new mechanism is established.

The meeting discussed the possibility of expanding the current portfolio at the Central Bank of Sudan so it can fully carry out its role in purchasing domestically produced gold.

The minister stressed the necessity of creating a national investment portfolio owned by the state, in line with the government’s goal of preserving gold in the Central Bank and building trust between the government and gold owners by providing guarantees to protect their rights. He also emphasized adopting policies that encourage cooperation with the portfolio by offering financing and the necessary incentives to strengthen confidence.

It is noteworthy that the meeting was attended by gold exporters as well as all relevant government bodies and stakeholders.

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