South Sudan president sacks finance minister, central bank governor amid catastrophic economic crisis

Incoming South Sudan Finance Minister Dier Tong Ngor

Incoming South Sudan Finance Minister Dier Tong Ngor

South Sudan’s president, Salva Kiir Mayardit, fired the finance minister Agak Achuil Lual and the Central Bank Governor Moses Makur Deng, state television announced Thursday.

Outgoing minister Achuil has been in office since November last year after replacing Athian Diing Athian.

In a presidential decree read on SSBC on Thursday evening, President Kiir appointed Dier Tong Ngor, as finance minister of the Revitalized Transitional Government of National Unity. In the same breathe, the bank’s first deputy Johnny Ohisa was appointed acting governor.

The incoming minister, Tong, served as the Central Bank Governor for two years before he was relieved in January.

No reasons have been put forward explaining the changes, but the country is battling an economic crisis through runaway inflation and rapid depreciation of the South Sudanese pound leading to skyrocketing market prices.

Last month, the country’s Central Bank auctioned 47 million US dollars to forex bureaus and commercial banks as a measure to stabilize the exchange rates. However, the situation has continued to deteriorate as market prices soar.


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