Imminent Measures and Policies to Stop Deterioration of Sudanese Pound

Sudan Events – Rehab Abdullah

Governor of the Central Bank of Sudan, Bora Al-Siddiq, said that the bank is in the process of announcing new policies and procedures, in coordination with other parties, next week to stop the deterioration of the Sudanese pound. He indicated – according to “Al Jazeera Net” that these measures are subject to consultation with other government agencies and approval by higher authorities.
The governor confirmed that the Central Bank has what he described as “good” foreign exchange reserves, denying that the country received any external support, with the almost complete cessation of exports and the increase in demand for foreign exchange from the parallel market to meet the import of petroleum products after the cessation of the oil transport line, in addition to the decline in local production due to the war.
The governor attributed the reasons for the deterioration of the pound to cumulative reasons, in addition to the increase in the volume of liquidity due to the decline in the Ministry of Finance’s revenues from taxes, customs, and others, in addition to the intense activity of parallel market traders.