The reasons behind the rise of the dollar

Sudan Events – Rehab Abdullah

The Dean of the Faculty of Economics at Al-Nilein University, the economic expert, Dr. Abdel-Azim Al-Mahal, warned of the repercussions of the continued deterioration of the Sudanese pound’s exchange rate against the dollar significantly.

During his speech to Al-Ahdath, Al-Mahal considered that the increase was illogical during the war period, as a result of the significant decrease in the import of goods due to the movement of more than (11) million people, some of whom left outside Sudan and some of whom were internally displaced, and they represent 80% of the mass consuming imported goods.

Al-Mahal confirmed that the largest component of imports in the recent period are weapons and various military equipment.

He believed that in this case, the government would be the primary culprit for the rise in the price of the dollar, and it would be the largest buyer of the dollar on the black market.

He pointed out that the militia requested rapid support for the dollar for reasons of purchasing weapons from abroad.
Importing and recruiting more individuals from abroad,
And converting the money that was looted from banks, institutions, companies and individuals into dollars, in addition to importing some goods from neighboring countries, and giving some of their employees their salaries in dollars. Pointing out that all of these people do not care about buying the dollar at any price.

He stressed the need for the government to acknowledge the problem and its disastrous effects on the Sudanese citizen, and called for the formation of a crisis cell of a number of academic economists and practitioners inside and outside Sudan whose mission is to develop the necessary plans, programmes, policies and procedures to solve the problem without interference from the government or the Ministry of Finance.

He believed that the most important decision of this cell was that the one-thousand-pound and five-hundred-pound note should not be cleared, and its bearer would not have the right to buy any goods or services with it, but would only convert it into the new currency. He confirmed that this matter would lead to preventing those who plundered banks, companies, and individuals from enjoying their loot.