Banking Expert Urges Prompt Withdrawal of Cash from the Market

Banking expert, Walid Dalil, emphasized the urgent need for the state to withdraw the cash circulating in the markets and replace it with new currency, noting that the current currency exchange process is politically motivated before being economically driven.

Dalil stressed that the state is responsible for all the currency in the country, including counterfeit money, especially when the state’s security agencies fail to seize counterfeit currency. He compared this to the situation during World War II, highlighting that the next step in the process is to print new currency and withdraw all old currency in order to cleanse the economy of counterfeit money.

Dalil explained that the issue of currency exchange and counterfeit money is a matter of state security. He pointed out that during the tenure of Prime Minister Motazz Moussa, the state printed currency, but it was not used due to fears of rising inflation and a lack of trust from citizens in banks, which led to a liquidity shortage in the banks. After the revolution, when the rebel leader Hemedti took over the economic committee, this new currency was used to buy gold from the Gold Market, with trucks of money arriving at the Gold Market area, accompanied by rebel forces to exchange cash for gold. He also noted that when gold traders realized this new currency would lead to inflation, they used it to conduct business and abandon the Sudanese pound as it continued to lose value daily.