Dismissal of the Governor of the Bank of Sudan…. Dollar exchange rate stability ✍️ Muhammad Othman Al-Rida
In a move described as the first of its kind, the national currency suffered a terrible fall against foreign currencies, which is considered the real beginning of the economic collapse.
Certainly, this terrifying fall of the Sudanese pound against the dollar has caused a situation of extremely high prices for various food products imported from abroad.
The Bank of Sudan was unable to contain the dollar, which was rising at a rapid pace, in exchange for the senseless fall of the Sudanese pound, which fell to its lowest level.
The dismissal of the governor of the Bank of Sudan has not contributed and will not contribute to the stability of the dollar exchange rate, and security campaigns aimed at arresting currency traders will not make us safe.
Our main problem in Sudan is to treat the symptoms and forget about the diseases. This is the main thing and the key. We solve the problem after the axe has fallen on the head.
Unfortunately, we do not have a clear vision to address the economic issue, and this is due to the lack of adequate planning.
Competent and specialized economic experts were completely absent and their opinions and advice were not taken into account, so there was no solution to the economic crisis.
Livelihood politics, day to day, does not run a country at all, and leaving the problem to unqualified people has brought us to where we are today, and if the problem is not solved today, before tomorrow, the burden on livelihoods will spread.
Most traders have stopped buying and selling due to the instability of the dollar exchange rate, fearing heavy losses that are difficult to bear, which could lead to capital erosion.
Optimal use of available economic resources, such as gold and exported food crops, can contribute to a reasonable extent to providing hard currency, which in turn will contribute to the stability of the dollar exchange rate.
