[ad_1]
Kiir had been working on reforms at the bank and the finance ministry before granting the central bank autonomy this month, asking other government agencies to coordinate and implement his directives to help the bank fulfill its constitutional duties and perform its duties without interference.
But in March 2024, the president made changes to the Ministry of Finance, firing Barnaba Bak Chol and replacing him with Awou Daniel Chuang, who was removed from office on July 11.
The President, during the swearing-in ceremony of new Finance Secretary Marial Donglin Atel, said he would not stop reforms until he finds someone with the right skills and knowledge to fix the economy.
“I know you have worked in the National Revenue Service and know how the money is collected from the people. So, you set up a network to collect the money and then find a solution. The solution is that you have to have one account, a single account, because everyone has his own account to collect the money. These accounts do not go to the people (government bank). Everyone goes to the big guy he knows. Otherwise, we will have a lot of money and I am looking for a solution,” said Kiir.
He added, “That’s why I bring one person in today, kick him out tomorrow, and bring another one in.”
South Sudan’s leader has asked his government for patience as it works to fix its dire economy.
“This is all I have tried. When I succeed in finding the right person, I will stick with it and tell him you are working. We have had nine full months; people have not received their salaries, and we have money. The money from non-oil revenues is enough to pay the salaries and do everything. Let us believe that you will. So, I am giving you a very limited time to see what you will do,” he said.
Analysts worry whether regular changes to find people with the right skills and knowledge will stabilize an economy that has performed poorly since war broke out in 2013, driving away foreign investors, displacing people and disrupting food production, leaving them dependent on humanitarian aid rather than growing their own food and selling surpluses for foreign exchange.
The situation has been made worse by war and climate change, which has led to flooding in different regions, including the Bahr el Ghazal region, the Upper Nile and the Equatorias, and by disruptions in the supply of crude oil exported through Sudan to international markets.
Ongoing fighting between rival militants in Sudan has severely disrupted a pipeline that carries 60 percent of Sudan’s crude oil to international markets, dealing a heavy blow to the oil revenues that Sudan and its leadership rely on.
This economic situation has been a challenge for successive ministers, and many analysts doubt whether the new finance minister will be able to make a difference.
He expressed optimism about resolving the issue, saying he was part of the system and knew how to deal with the challenges facing the country.
“I am aware of the reality,” the finance minister said after being sworn in on Friday.
He did not elaborate on who would handle the situation.
Cabinet Affairs Minister Martin Elia Lomuro pledged his willingness to help the new minister and urged him to find ideas that could help solve the problem.
“We will work together and you may find ideas from all corners to push you towards your goals, but this is a serious challenge for the president himself. You know how many ministers we have changed, almost seven since then, and now you are the seventh minister. Some have been in office for six months or a year. That’s it. You really have to focus, help him, help the country,” Lomulo said.
Economists and other experts do not shy away from pointing out the failures, often citing and questioning how the new minister can fix an economy that has inherited a troubled economy with foreign exchange shortages, a weak currency, falling oil production and corruption in the collection of non-oil revenues.
Some believe he will enrich himself and then follow the path of his predecessors and no longer make any real efforts for the economy.
(English stone)
[ad_2]
Source link
