A leading South Sudanese civil society organization, Community Empowerment for Progress Organization (CEPO), said that the way out of the country’s economic problems is stopping the war.
In a press statement, CEPO said the only solution to the current “man made economic crisis” of South Sudan lies in the hands of the warring parties’ leadership.
CEPO said they look forward to the special session of parliament to be held next Thursday to question Central Bank governor Kornelio Koryom and Finance Minister Designate David Deng Athorbie. Parliament is set to ask the two men about rising consumer prices and the weakening of the South Sudanese Pound against the dollar.
The SSP is now trading at over 10 to dollar on the informal market, nearly half its value compared to in January. The official exchange rate remains roughly 3.1 SSP to the dollar.
“Some individuals in public office are abusing the public office powers for creating parallel market for dealing with dollars as an opportunity of making quick capital,” CEPO alleged.
CEPO noted that the rise in commodity and service costs is “serious” and has led to an increase in crime particularly along major roads connected Juba to Torit, Kajo Keji, and Yambio.
Related:
S Sudan parliament summons Central Bank governor over dollar shortage (14 May)