Sudan: FFC Present Proposals to Maximize Foreign Exchange Resources

Khartoum — The eighth session of the National Economic Conference was held today at the Friendship Hall, and discussed the axis of monetary and financing policy, and the management of the exchange rate and the balance of payments.

The representative of the Economic Committee of the Forces of Freedom and Change (FFC), Dr. Shawky Azmy, presented the committee's directives on maximizing the country's foreign exchange resources, with the aim of strengthening the national currency's rate and providing the necessary needs of the country.

The committee acknowledged that what is required at this stage is not to reduce or float the exchange rate of the Sudanese pound, but rather to strengthen the exchange rate of the national currency by providing foreign currency and thus providing the basic needs of the country.

To achieve this, the committee recommended establishing bourses for gold exports and agricultural exports in order to control export earnings, government control to gold and mineral exports and build gold reserves at the Central Bank to use it in obtaining external credits and returning public shareholding companies that work in the areas of exports, namely: the Gum Arabic Company, the Oilseeds Company, the Cotton Company and Livestock and Meat Company.

The FFC Economic Committee called for benefitting from the resources of Sudanese expatriates by implementing their initiatives and attracting their savings, stopping import of luxury goods, preventing telecommunication companies and other institutions from buying cash from the parallel market through a specific agreement, and preventing the government from buying dollars from the parallel market.

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