Al-Tohami: Weakness of Expatriates' Remittances due to Instability of Exchange Rate
Khartoum - The Secretary General of the Secretariat of Sudanese Working Abroad (SSWA) Dr. Karrar Al-Tohami has attributed weakness of the expatriates' remittances to the instability of exchange rate, absence of encouraging policies and mistrust in the financial system.
Addressing the concluding sitting of the Conference on Economics of Immigration yesterday, Dr. Al-Tohami said that an international study verified major retreat of Sudanese expatriates' transfers in comparison with the other countries like Egypt 14 billion dollars and America 37 billion dollars 8 % of its gross national product (GNP).
He explained that remittances of the Sudanese working abroad was 4 billion dollars at that time through the official channels but it started to decline to an half during the two years following the previous period due to the lack of concern with the legal and administrative legislations in the migration filed and disequilibrium of economic indicators.
The Secretary General of the Secretariat of Sudanese Working Abroad pointed out that the economics of migration have become fundamental drive of the international economy, stating that the migration is important for both rich and poor countries, referring to the existence of more than 340 thousand persons working outside their homelands.
The two-day conference discussed the migration issues and its economics in participation of a number of economists, bank executive managers, university professors, group of expatriates and government officials.
By Staff Writer, 17/07/2012