The directive was issued during the swearing-in ceremony of new leadership at the Bank of South Sudan, where fresh appointments were made to strengthen monetary management amid rising inflation and public frustration over lack of physical currency.
Newly sworn-in officials include Tong Akec Deng as First Deputy Governor for Policy and Banking and Weituy Luony Babuoth as Second Deputy Governor for Administration and Finance. At the same ceremony, Peter Dau Akol took oath as Counsel General in the Ministry of Justice and Constitutional Affairs.
“Where is the cash?”
Addressing the new officials, Kiir questioned why citizens across the country continue to struggle to withdraw money from banks and access basic financial services. His remarks, broadcast on South Sudan Broadcasting Corporation, highlighted suspicions that hoarding or systemic failures could be behind the shortage.
He warned that if individuals or groups were deliberately withholding cash, authorities must investigate and prosecute those responsible. But if the shortage originates from banking operations, he insisted the central bank must urgently correct the flow of currency.
The president emphasized that the financial system directly affects everyday survival in South Sudan, where many people rely on cash transactions for food, transport, medical care, and school fees.
With banks frequently running dry, citizens have increasingly turned to black-market currency dealers, worsening inflation and weakening trust in financial institutions.
New leadership, high expectations
Central Bank Governor Johny Ohisa Damian expressed confidence in the newly appointed deputies, noting their long experience within the institution. He said the team was carefully selected to confront economic instability and restore public confidence in the banking sector.
Analysts say leadership changes come at a critical moment. South Sudan’s economy, heavily dependent on oil revenues, has been strained by fluctuating global prices, conflict-related disruptions, and currency depreciation.
New leadership, high expectations
Central Bank Governor Johny Ohisa Damian expressed confidence in the newly appointed deputies, noting their long experience within the institution. He said the team was carefully selected to confront economic instability and restore public confidence in the banking sector.
Analysts say leadership changes come at a critical moment. South Sudan’s economy, heavily dependent on oil revenues, has been strained by fluctuating global prices, conflict-related disruptions, and currency depreciation.
The resulting liquidity crisis has left banks unable to meet withdrawal demands, while businesses struggle to pay suppliers and workers.
Public pressure rising
For ordinary citizens, the shortage has become more than an economic issue — it is a daily hardship. Long queues at banks, withdrawal limits, and reliance on mobile money agents charging high fees have intensified frustration. Traders in markets increasingly prefer foreign currency, further weakening the local pound.
Economists argue that restoring circulation requires both technical reforms and public trust. Measures such as releasing adequate notes, improving distribution to rural areas, and tightening oversight on currency traders could help stabilize the situation.
Public pressure rising
For ordinary citizens, the shortage has become more than an economic issue — it is a daily hardship. Long queues at banks, withdrawal limits, and reliance on mobile money agents charging high fees have intensified frustration. Traders in markets increasingly prefer foreign currency, further weakening the local pound.
Economists argue that restoring circulation requires both technical reforms and public trust. Measures such as releasing adequate notes, improving distribution to rural areas, and tightening oversight on currency traders could help stabilize the situation.
0 Comments