South Sudan’s Central Bank and Ministry of Finance said that are working to reduce the exchange rates of the US dollar against the local currency in order to improve the country’s economy and reduce inflation.
This comes during a meeting between the Minister of Finance Stephen Dhieu Dau and the Governor of Central Bank, Dr. Othom Rago Ajak on Thursday.
Speaking to reporters after the meeting, Minister Stephen Dhieu said the two institutions will work to find a solution to the increasing prices of essential commodities at the market.
“We have agreed to reduce the exchange rates of the US dollar either to fix it or by injecting more hard currencies so as to increase the supply,” said Dhieu.
“We want to assure our people that yes, our economy is experiencing difficulties, but the issue will not be solved overnight,” he added.
The official reiterated his government’s commitment to allow the free market system in South Sudan.
Separately, multiple sources said that several local and foreign traders have threatened to close their business due to a shortage of US dollar and persistent shortages of fuel in Juba.
Photo: Finance Minister Stephen Dhieu (Radio Tamazuj)