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

Dr. Marwa Fouad Qabbani

The regular meeting of the Economic Performance Monitoring Committee, chaired by Transitional Sovereignty Council Member Lieutenant General Engineer Ibrahim Jaber, was held at the headquarters of the Central Bank of Sudan on Tuesday, October 27, 2026, at a time when the Sudanese economy is facing challenges related to foreign currency shortages, declining resources, and the expansion of economic activity outside the formal system.

The meeting discussed several important issues, including attracting savings from Sudanese expatriates, export proceeds, expanding the tax base, electronic revenue collection, the establishment of a one-stop window at ports and border crossings, and trade cooperation with South Sudan.

Despite the importance of these issues, the real challenge lies in their ability to produce a tangible impact on exchange rate stability and improve the country’s economic resources, rather than merely monitoring procedures and assigned tasks.

A noteworthy paradox emerges in this context. Data from Electronic Banking Services (EBS) indicate that transfers conducted through the Basic Bank Account Number (BBAN) grew by approximately 52%, according to the published comparison, with transactions exceeding 234 million. This is an indicator of the expanding use of digital banking services despite the conditions imposed by the war.

However, growth in electronic transactions does not necessarily mean an increase in foreign currency inflows, particularly since a substantial proportion of these transactions are conducted in Sudanese pounds and within the domestic banking system. This highlights the need to move beyond digitizing transfers towards using technology to attract expatriates’ savings and facilitate international remittances.

Sudanese expatriates represent an important strategic resource. Historical estimates indicate that their remittances were approaching $3 billion annually before the war. However, recovering these resources requires rebuilding confidence in banks, offering attractive and transparent exchange rates, reducing transfer fees, and developing foreign currency savings and investment accounts and products, while facilitating the opening and management of accounts electronically from abroad.

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

In this context, the issue of export proceeds becomes central. Increasing exports will not deliver their full economic benefits unless the resulting revenues enter the country through official banking channels. This requires addressing the exchange rate gap, combating smuggling, and providing incentives for exporters.

Electronic revenue collection, expansion of the tax base, and the establishment of a one-stop window are also important instruments for strengthening government revenues, reducing financial leakage, and lowering the cost of trade. However, increased revenue collection must not translate into additional burdens on citizens and productive sectors. It must also be accompanied by genuine integration among 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. However, 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 accompanied by performance indicators measuring the volume of expatriate savings attracted, the proportion of export proceeds repatriated, revenues collected electronically, and growth in digital payments.