On the occasion of the present unprecedented sky-rocketing of the exchange rate of the US dollar against the Sudanese pound and the inflation which is inching to 400%, let me tell you this story which was told to me by former Minister of Finance, Dr. Abdulwahab Osman:
He said that when he assumed his position as minister of finance, the country was suffering an economic crisis to the extent that the Sudanese currency collapsed and the inflation witnessed unprecedented rice to reach three digits for the first time in Sudan’s history.
At that moment. Minister Abdulwahab started his tireless attempts to control the exchange rate and at least stop the escalation of inflation.
Due to his serious economic steps, the Sudanese currency started recovery gradually and the price of the local currency continued its rise against the US dollar.
The inflation started to melt away and the Sudanese, for the first time in three decades tasted the flavor of economic stability.
Then all of a sudden the dollar exchange rate against the Sudanese pound started rising tremendously. The minister recognized that there is something wrong, so he closed his office and started studying the issue to know where is the loophole through which the Sudanese pound began to fall after its considerable stability.
The shocking surprise is that the Minister discovered the loophole, after which he started weeping and screaming like a child inside his office. Asking about the reason for his weeping he sadly said that there was a plot administered by another minister whose office is close to Abdulwahab’s office.
Just imagine, a plot run by another minister to thwart the financial policies of the minister of finance!
Now, the question which is posing itself is who is behind the dirty game of raising the exchange rate of the dollar against the Sudanese pound?