The Sudanese pound loses more than 100% of its value

Sudan Events – Rehab Abdullah

The economic expert, Dr. Muhammad Al-Nair, revealed that the Sudanese pound had lost more than 100% of its value, and he justified this by saying that at the beginning of the war, the puond price was approximately 500 pounds per dollar, however, now it is worth more than 1,200 puounds per dollar. Al-Nayer considered this in his speech to (Al-Adath) as a significant decline due to the war, the weakness of the state’s revenues in the past period, and the weakness of export movement in a fundamental way. Dr. Al-Nayer conditioned the return of the Sudanese pound to its value, by increasing the volume of exports through interest in gold as a major source that constitutes more than 50% of export revenues before the beginning of the ongoing war, spcially that most of the production gold is in safe areas, and the largest producing state is the Nile River, as well as the Northern State and the Red Sea, which are states that produce large quantities. He stressed that this production it must be calculated and its smuggling must be limited, so that it can generate revenues in foreign exchange to meet import requirements mainly, pointing to the importance of not neglecting other exports such as livestock and agricultural production, as well as stimulating state revenues by reducing the exchange deficit in the general budget. He confirmed that these are factors that lead to a significant improvement in the exchange rate. However, he indicated the ease of achieving this after the conflict between the Sudanese army and the Rapid Support Militia is resolved. However, he stressed to make efforts at the present time and develop an urgent emergency plan to stop the continuous deterioration in the value of the Sudanese pound, and after the battle is resolved, work will be done until the national currency regains some measure of its strength.