An Economic Expert Reveals Reasons of Rise in the Dollar

Sudan Events – Rehab Abdullah

The Dean of the Faculty of Economics at the University of Sudan, the economic expert, Dr. Abdul-Azim Al-Mahal, warned against the repercussions of the continued deterioration of the exchange rate of the Sudanese pound against the dollar significantly after its trading price in the parallel markets (Tuesday) reached more than 1,440 pounds.
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 is the primary culprit for the rise in the price of the dollar and is the largest buyer of the dollar on the black market.
He pointed out demand for dollar by Rapid Support Forces for reasons of purchasing weapons, importing and recruiting more individuals from abroad, and exchanging the money that was looted from banks, institutions, companies, and individuals into dollars, as well as importing some goods from neighboring countries, and giving some of their employees their salaries in dollars, pointing out that the two parties 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, programs, policies and procedures to solve the problem without interference from the government or the Ministry of Finance.