Sudanese Economist Proposes “Gold Savings Pound” to Curb Dollar Speculation and Boost Economy
Sudanese economic analyst Dr. Loay Abdel Moneim has called for decisive measures to support Sudan’s economy, most notably the issuance of a “Gold Savings Pound” as a banking instrument to combat gold smuggling and reduce dollar speculation.
Speaking in an interview, Dr. Abdel Moneim explained that the proposed gold-backed currency would initially be circulated exclusively through banks, enabling financial institutions to increase liquidity and fund development projects.
He noted that the initiative would help reduce dependency on the U.S. dollar in the parallel market, raise the value of the Sudanese pound, and increase the Central Bank’s gold reserves — positioning Sudan for greater monetary stability.
The economist further urged the government to shift from revenue collection to active production and direct investment, recommending the adoption of Build-Operate-Transfer (BOT) models for major projects, limited to ten-year concession periods.
He also proposed reducing the number of operating companies by imposing a minimum investment threshold of USD 150–200 million, to attract serious investors and strengthen state oversight.
Dr. Abdel Moneim called for a sovereign decree granting the government a minimum 51% ownership share in capital and management of strategic projects, alongside a comprehensive review of existing concession agreements to evaluate performance and ensure real contributions to national growth.
He emphasized that implementing these policies collectively could stabilize the national currency, expand foreign reserves, and achieve sustainable economic development despite Sudan’s ongoing challenges.
