Economist Calls on Central Bank to stop Speculation

Sudan Events – Nahid Oshi

The Financial and Economic Expert, Dr. Alaallah Abdul Razzaq expressed his fear of the increase in the volume of borrowing from the banking system, particularly in light of the weak expected revenues, which threatens to further increase inflation rates. He warned in his statement to (Sudan Events) against the decline in the performance of the Sudanese economy by up to 42% as a result of the confrontations between the Sudanese army and the Rapid Support Forces militia., which is approaching its 10th month, has led to a deterioration in the value of the Sudanese pound against foreign currencies with a decline in Sudan’s export earnings, in exchange for an increase in the rates of imports from abroad, as well as an increase in the rates of foreign and local capital leaving abroad and the search for safe havens for investment. He called for the need to reduce imports and limit them to necessities only. He further called on the Central Bank of Sudan to establish more stringent controls to stop speculation in foreign currencies because of its impacts on the standard of living of the Sudanese.