Finance Ministry Orders Urgent Plan to Curb Dollar Volatility and Capture Gold Export Proceeds

Finance Minister Dr. Gebreil Ibrahim chaired a meeting of the task force assigned to develop urgent measures to address economic challenges related to exports and imports, as part of the government’s efforts to achieve economic stability.

The meeting stressed that exchange rate stability is inseparable from broader macroeconomic reforms, including better coordination between monetary and fiscal policies and the promotion of real-sector production.

Participants underscored the need to intensify efforts to regulate the gold and petroleum products sectors, given their significant influence on exchange rate stability. The measures include tightening oversight and ensuring that export proceeds are fully channelled through official mechanisms.

The meeting also called for stimulating domestic production, encouraging local industries, and shifting from raw material exports toward value-added production to reduce the import bill and boost foreign exchange inflows through export diversification.

Participants further emphasised the need to establish regulatory frameworks for border trade to ensure that commercial flows support market stability, curb informal activities that adversely affect the exchange rate, improve the trade balance through import substitution, and implement incentive policies that ensure the timely repatriation of export earnings.