Sudan Takes Series of Measures to Deal with Economic Crisis

Sudan Takes Series of Measures to Deal with Economic Crisis

Thursday, 17 May, 2018 - 09:00
Sudan, via Asharq Al-Awsat AR.
Khartoum - Seif al-Yazal Babaker
The leadership office of the National Congress (the ruling party) in Sudan has issued a series of measures to address the country's faltering economic situation, which is topped by the fuel crisis that hit the country for nearly a month.

The ruling party's measures started by exempting the oil minister, who has repeatedly acknowledged the difficulty of the situation in Khartoum, which is incapable of providing fuel, especially gasoline. This warned of the failure of the current agricultural season.

The leadership office of the ruling party decided to work on increasing oil production in existing fields and through new exploration operations.

In this regard, it ordered providing future funding for the maintenance of refineries and stressed the provisions of administrative treatment for the distribution of oil derivatives by non-traditional means and closure of smuggling outlets in a way the priority to distribute gasoline is given for agricultural production, electricity, mining and public transport.

The measures to deal with the economic situation also included three axes. The first is to stop the purchase of foreign exchange companies and agencies from the parallel market for whatever reasons, stop issuing letters of guarantee, and limit the disbursement to the first chapter at the level of the center and the states.

The party directed the need to spread banking services, use banking technology as an alternative to cash in the center and the states, direct foreign exchange resources to purchase commodities and inputs of agricultural and industrial production as a priority, and work to restore the confidence of correspondents in the Central Bank and other banks.

The economic sector report of the National Conference identified the export commodity matrix, stressing the need to overcome all the obstacles that lead to its accumulation and to address the price of concentration by the Ministry of Commerce.

It called for the establishment of a financing portfolio with a new vision for the issuer.

The leadership office of the ruling party in Sudan gave orders to expand and accelerate the reliance on e-payment to solve liquidity problems.

On the other hand, in the framework of economic treatments at the international level, State Minister at the Ministry of Finance and Economic Planning Dr. Abdul Rahman Dirar briefed the British Agency for International Development in Khartoum on the economic reform policies that the country is working on implementing.

Dirar told the delegation of the agency in Khartoum on Wednesday that the process of economic reform needs the support of the international community.

He pointed out that he discussed with the agency the role that the international community can play in this process so that the national economy can move forward and achieve economic stability that attracts foreign investments.

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