In a statement to the Media by the Ministry of Information, Communication Technology & Postal Services, the official Government spokesperson, Michael Makuei Lueth appealed to the traders and business community to continue practicing their activities as usual.
This came after the Minister of Information issued a statement that scared the business community on Friday, October 9, 2020, when he claimed that the country will change its currency and therefore those who are hoarding money should take them to the bank before they lose it.
The statement had a huge impact as businesses closed down and price of basic goods rampantly increased.
“Traders have closed their shops and business centers in reaction to the shape decline of South Sudanese pound against the United States Dollar.” Said the Ministry of Information and Broadcasting in its press release this morning.
“last week the Government announced a plan to introduce new Bank-note due to accumulation of the existing notes.” The ministry statement continued,
Initially the minister claimed that the cabinet has agreed to change the currency but according to President Kiir, that was not true.
“At the beginning of the session, President Salva Kiir questioned the Council of Ministers, why an announcement of currency change was made to the public last Friday yet it was not part of the agenda and resolutions of the previous cabinet meeting.” Read part of a statement released to the media by the office of President Kiir.
In an extraordinary meeting of the council of Ministers Chaired by the president of the Republic, Salva Kiir, the Government vowed to stabilize the market by injecting some dollars through the central Bank and other Banking institutions in the country.
The Minister of Trade and Industry was directed to engage the business community to hear their grievances on the matter.