Kiir Urged To Relieve Finance Minister, Central Bank’s Governor Over In-capabilities
The South Sudanese Business Community under the leadership of chairperson Ayii Duang Ayii, have urged His Excellency President Salva Kiir Mayardit to lay off the finance minister together with the Central Bank Governor for their failure to control runaway inflation. Central Bank Governor for their failure to control runaway inflation.
Earlier this week, parliament summoned both officials to explain reasons surrounding currency devaluation following a cry out from the business Community for devaluation of the South Sudanese pound compared to the US dollar.
According to Ayii Duanv Ayii, currency depreciation is attributed to both officials since they have failed to save the local currency from the dollar, and if nothing is done, several businesses will close, leading to a massive loss of jobs.
“The minister of finance and his central bank governor have failed to control the dollar exchange rate as such; things continue to worsen day and night. If these guys are not sacked, South Sudanese are going to suffer more”, Ayii said.
It is worth noting that in August 2022, Dier Tong Ngor, a graduate of the University of Khartoum, was appointed minister of finance and planning with the aim to stabilize the economy at a time when the exchange rate was below SSP 600 per dollar. To the dismay of many, so far six months down, the local currency has lost almost half of its value since he took over.
Chairperson Ayii, therefore, reiterates his call to the president to fire both officials in order to remedy the situation.
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