Home | News    Wednesday 9 September 2020

Hamdok not interested to discuss economic reform with Sudan

A Sudanese street vendor sells fruit in Khartoum on June 21, 2016 during the fasting month of Ramadan (AFP photo)September 9, 2020 (KHARTOUM) - A member of the Central Council of the Forces for Freedom and Change said that the prime minister, his economic advisor and the minister of finance are not interested in meeting the FFC economic committee to discuss the economic crisis in Sudan.

The Sudanese pound has fallen terribly in the parallel market (the black market), where it was exchanged on Tuesday at more than 25 a decision that might lead to an economic recession if followed by many.

“Prime Minister Abdallah Hamdok and his economic advisor Adam Hrika and Finance Minister Heba Mohamed Ali are not interested in meeting the Economic Committee of the Forces for Freedom and Change, which has requested to meet them since August 11th,” Muhaid Siddiq told the Sudan Tribune on Wednesday:

The member of the FFC Central Council, which is the highest authority in the ruling coalition, attributed the recent devaluation of the Sudanese pound to the government’s insistence on working with the amended budget.

The FFC groups call for the suspension of the 2020 budget, which was revised on 10 August to gradually lift government subsidies on fuel, and decided to partially liberalize the pound against hard currencies.

Muhaid said that the government approved the budget without studying the economic situation and considering the political and social impact of these measures.

He added that such decisions should be accompanied by measures proposed by the Economic Committee, like reforming the banking system and the Central Bank of Sudan, replacing the currency and merging some banks with each other.

"The government has not taken serious steps in combating smuggling, attracting (foreign) investment, reforming the tax system, besides amending or changing the banking system law," he further said.

The FFC groups criticize Hamdok economic policy saying it is inspired by the FMI but Hamdok rejects the claim saying it is fully adapted to the economic situation in the country.

The Sudanese Prime Minister, Abdullah Hamdok, Wednesday admitted that his government is facing extremely complex internal and external challenges.

However he showed optimism expecting that the American administration would remove his country soon from the list of state sponsors of terrorism, a measure would encourage foreign investors to come to Sudan and to engage discussions over international financial institutions over debt relief.

In a related development, the minister of the economy discussed with the head of the Sovereign Council Gen. Abdel Fattah al-Burhan ways to use the resources of the armed forces to serve the national economy.

(ST)