South Sudan’s president dismisses the finance minister and the governor of the central bank.
South Sudan’s president, Salva Kiir Mayardit, sacked finance minister Agak Achuil Lual and Central Bank Governor Moses Makur Deng on Thursday, according to state television.
Achuil, the outgoing minister, has been in office since November of last year when he took over for Athian Diing Athian.
President Kiir named Dier Tong Ngor as finance minister of the Revitalized Transitional Government of National Unity in a presidential order read on SSBC on Thursday evening. Johnny Ohisa, the bank’s first deputy, was named acting governor at the same time.
Tong, the new minister, was the Central Bank Governor for two years until being removed in January.
There have been no explanations for the adjustments, although the country is in the grip of an economic crisis due to rampant inflation and the quick devaluation of the South Sudanese pound, which has resulted in increasing market prices.
As a step to stabilize currency rates, the country’s Central Bank auctioned out 47 million US dollars to FX bureaus and commercial banks last month. However, the issue has worsened as market prices skyrocket.