Minister of Finance Denies Receiving Any Foreign Currency Since Outbreak of the War

Port Sudan – Sudan Events

Minister of Finance and Economic Planning, Dr Jibril Ibrahim, acknowledged the depreciation of the national currency against foreign currencies, rising from SDGs 570 in March 2023 to more than SDGs 1200 within one year.
Ibrahim justified the increase in the exchange rates of the Sudanese pound due to the lack of external resources amid increasing expenditure on the war effort in foreign currencies.
He said, “Not a single entity has provided us with a dollar since the start of the war until now.” Ibrahim pointed out that the high demand for foreign currencies compared to limited supply has led to the depreciation of the Sudanese pound, noting their efforts to control the exchange rate.
Ibrahim highlighted the suffering of the Sudanese people due to the high jack in prices of goods and the scarcity of resources because of the war.
He revealed the challenges facing this year’s budget, including revenue decline and lack of accurate estimates due to most information being in Khartoum’s capital.
Ibrahim affirmed that State revenues have decreased by more than 80%, focusing on the capital in terms of factories and companies, explaining that the halt of work in the capital has led to a decrease in revenues.
He clarified that his ministry has worked on prioritising the State’s needs, including the war effort, arranging the situation of the IDPs , and the health situation.
He warned that the war has created difficult health conditions, stating that the state has lost its medicine stockpile by more than $500 million.