Proposal to cancel SDG (1000-500) Denominations

Khartoum – Rehab Abdullah

Professor Abdullah Al-Ramadi, the economic expert, has said he supports the proposal put forward by the Sudanese politician, Mubarak Al-Fadil, on changing the Sudanese currency, by canceling the denominations of 1000-500 pounds. His argument is that the government could thus curb the impact of the huge liquid money that was plundered during the current war. He said that this would deprive looters from making use of the paper money they have in their possession now, when the state introduces the 10,000-pound note, thus the previous smaller denominations would become worthless paper in the hands of those who plundered them.
Al-Ramadi believed that this would not cause significant harm in light of the prevailing circumstances in which inflation rates are rising at a successive pace, provided that they are of a size that covers the total of the denominations replaced so that the monetary supply does not exceed the permissible ceiling that could result in imbalance in the economy. Al-Ramadi acknowledged that the process will have negative effects on the economy if the monetary mass exceeds the permissible limit, pointing out that this has certain controls and equations by which it is calculated, and stressed that his point should be taken into consideration.
Al-Ramadi believed that the proposal to change the currency is a correct one and finds great support, and he called for its implementation so that those looters who stole this money from its owners and assaulted them, whether it was in banks, companies or individuals, do not benefit from that money, as it will as remain worthless paper. They will not benefit from it, and it exits from dealing in the Sudanese economy, as it replaced with the proposed new denomination (10) thousand, so that the size of the monetary mass is not diminished or reduced by this canceled money. He considers that changing the currency has benefit, and stressed that it closes the door to such adventures in the future, when this currency in the hands of those involved in it would remain just worthless paper.