MMM Sets the Price, not to Resolve the Country’s Economic Ills

Ahmed Ibrahim

Khartoum – The performance of the market maker mechanism (MMM) whose task is the issuance of the price of the Sudanese pound against the other foreign currencies, has become an issue of controversy, especially among the economists. To begin with, Dr. Mohamed Al-Nair, economist, accuses MMM of failure to resolve the currency problems, explaining that the government and via MMM has failed to attract the returns of exports and gold and the remittances of the expatriates.
He goes on to say that MMM will not solve the predicament of the local currency against the foreign ones, unless the government is to change it policy regarding the attraction of the foreign currencies, pointing out the manifestations of such a trend will be like this; ‘giving incentives to the expatriates; eemoval of the stumbling blocks that face the exports’ returns. Establishment of a gold bourse and the non-involvement of CBOS in the purchase of gold’.
And the ministry of finance’s former state minister, Dr. Ezzel Din Ibrahim, goes to describe MMM as a method that is merely concerned with the setting of prices, not the resolution of the country’s economic ills.

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