Sudan: official claims ‘mafia’ is behind currency and gold speculation

The Deputy Chairman of the Sudanese Sovereign Council said on Wednesday that a “mafia” is responsible for currency and gold speculation in the country, Anadolu has reported. General Mohamed Hamdan Dagalo, who is usually referred to as Hemedti, told a meeting of Sudanese businessmen that such speculation usually involves US dollars.

According to an official statement from the council, Dagalo holds currency speculators responsible for the deterioration of the exchange rates in the country, and the loss of public revenue.

“There is a mafia that is active in speculating in dollars and gold, and it makes money from the sweat of the Sudanese people,” he said. Pledging to hold trials as a deterrent to speculators and those who evade paying their taxes, Dagalo added that, “The current laws are insufficient to deter smugglers. Fines help to increase the pace of smuggling instead of stopping it.” He called for tougher punishments for those who damage the national economy.

On Sunday, the Sudanese government approved the unification of the exchange rate of the Sudanese pound after it had deteriorated against the US dollar to an unprecedented level. The move is intended to unite the official and black market rate.

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