South Sudan: Kiir Vows To Tackle Economic Challenges.
March 31, 2024
By Deng Machol
I have therefore directed the economic cluster to adapt appropriate remedies to address the inflation, says President Kiir
JUBA, South Sudan - President Salva Kiir has directed the economic cluster to adopt appropriate remedies to address the inflation in the country.
In his Easter message, President Kiir said that this important holiday is particularly significant this year because of the serious socio-economic, security, and development challenges the country is facing.
President Kiir stressed that although many citizens have lost hope because of what he described as immense challenges, his government is committed to finding a way of improving the livelihoods of the struggling people of South Sudan during this difficult time.
"Compatriots, while many citizens of our beloved country have lost hope because of these immense challenges, let me, on behalf of the government, reiterate our commitment to look for better ways to improve the lives of all South Sudanese, young and old,” the president Kiir said.
“I have therefore directed the economic cluster to adapt appropriate remedies to address the inflation,” he added.
South Sudan’s oil production, with its international market through the Port Sudan pipeline, has come under threat due to the Sudan war.
South Sudanese Pound is continuously losing its value against the United States dollar; as of Friday, 1 dollar is sold at 240, meaning 100 dollars is 240,000 SSP in the parallel market.
Civil servants and organized forces have lived without pay for six months, since September 2023, when they received their last salary.
The Minister of Finance and Economic Planning, Awow Daniel Chuang, told journalists on Thursday that the economy is worsening due to the ongoing crisis in Sudan.
Meanwhile, Dr. James Alic Garang, the Governor of the Bank of South Sudan said the bank is mobilizing the US dollar currency to stabilize the market.
"The Bank has taken proactive measures and mobilized sufficient foreign exchange resources to intervene in the market with immediate effect, including by clearing outstanding auction claims," said Dr. Alic.
