Former National Exports Agency Director: Current Commodity Portfolio is Dollar-Based

Ahmed Babiker Hamour, former Director General of the National Agency for Export Development and Finance, highlighted a significant feature of the current essential commodity portfolio: contributions are made in US dollars, unlike all previous portfolios, where contributions were made in Sudanese pounds without exception.

Speaking to Al-Ahdath, he emphasized that this feature is key to achieving one of the portfolio’s objectives—stabilizing the exchange rate. However, he posed the question, “How can stability be achieved?”

He explained that dollar contributions mean that imports are conducted at the official exchange rate, and export proceeds are purchased from exporters at the official rate as well. This reduces demand for dollars in the parallel market, leading to a decrease or stabilization in its price, which in turn contributes to stabilizing the prices of imported goods in the local market, such as petroleum derivatives and wheat.

Hamour described these as benefits that serve the country and its citizens. He further argued that citizens are the biggest losers when the portfolio is suspended or canceled, while oil import mafias are the primary beneficiaries of halting the portfolio’s operations.