Gum Arabic Division: Advance payment Currency trade under Export Cover

Sudan Events – Rehab Abdullah

Head of the Gum Arabic Exporters Division, Ahmed Al-Tayeb Al-Anan, attributed the reasons for the currency deterioration to the current political situation in the country and its overlap with the economic and security situation.
Al-Anan pointed out in his interview (Sudan Events ) the difficulty of economic policies succeeding without their integration with political and security policies.
Al-Anan believed that there are measures that can lead to stopping the deterioration of the currency, if not improving it, including reforming the trade balance, noting that it is known that when exports fall short of imports, external payments increase and there is a demand for hard currency.
He believed that among the measures, Sudan can move urgently towards external alliances, such as Russia, and in return, Sudan requests wheat, fuel and weapons, so the bill for payments decreases and the demand for the dollar decreases, particularly government purchases, in addition to working to recover important cities such as Madani and Sinja from the Rapid Support Militia RSF to bring reassurance to the financial sector and open production areas to begin meeting food demand later, pointing to the importance of this step and adding, “This issue is important, and even if the army pays losses in it, it covers the economic losses and preserves the currency inside.”
Al-Anan affirmed the importance of waging a real war on the currency trade so that its capital can search for alternative investments, addition to controlling the money supply from the Bank of Sudan and increasing gold exports by increasing its local price from producers instead of smuggling, while closing the smuggling outlets for the remaining export goods, especially from Daba and Chad.
Al-Anan called for stopping the advance payment for Sudanese exports, as it is a currency trade under the cover of exports.
He pointed to the possibility of forming a committee of experts, economists, exporters and suppliers to increase the proposals to stop the deterioration of the Sudanese pound.