Sudan forms economic cell to manage currency crisis

The Sudanese government has formed a specialized cell to manage the exchange rate crisis and its impact on the economy. Chaired by Finance Minister Dr. Jibril Ibrahim, the committee aims to provide urgent solutions to mitigate the rapid rise in foreign currency prices. This follows a period of record depreciation for the local currency, with the US dollar trading at approximately 6,600 Sudanese pounds.

The National Economic Management Committee also emphasized increasing productivity in the mining, agriculture, and livestock sectors to reduce import dependency. Additionally, authorities are focusing on refining corporate data and removing entities that fail to meet regulatory requirements.

In a separate move toward digital transformation, the Central Bank of Sudan has launched a new electronic system to monitor foreign investments. This system tracks investments from their entry into the country through to the repatriation of profits. Economic experts suggest the initiative is intended to automate procedures, protect investor rights, and build a comprehensive database rather than to restrict capital flow.