Rédaction Africa Links 24 with umajulius
Published on 2024-03-05 09:14:29
South Sudan is facing economic challenges that are causing consumer prices to skyrocket, leading to concerns about a possible uprising. In response to this crisis, President Salva Kiir led a meeting with key officials from various government ministries and security forces to discuss strategies to control the rising cost of living.
The meeting, held on March 5, 2024, included representatives from the central bank, security affairs, special programs, presidential affairs, police, and national security services, among others. The economic cluster, which encompasses ministries such as trade, investment, petroleum, finance, road and bridges, transport, agriculture, and food security, gathered to find a unified approach to address the economic challenges facing the country.
One of the key decisions made during the meeting was to increase the collection of non-oil revenue and provide subsidized food items to the market. Additionally, the leaders agreed to supply fuel, support agricultural projects, and stabilize the exchange rate by auctioning funds. The meeting also called for a ban on the sale of foreign currencies on the street and the erection of illegal checkpoints throughout the country.
President Kiir emphasized the importance of collaboration and coordination among government institutions to tackle inflation and promote economic growth. The government’s commitment to addressing economic challenges and creating a favorable environment for citizens was reaffirmed during the meeting.
The decline in the value of the South Sudanese pound against the dollar has contributed to the increase in consumer prices, prompting concerns among the public. South Sudan heavily relies on oil production for its economy, but conflicts in neighboring countries have disrupted oil exports, leading to further economic instability.
The official exchange rate shows a significant disparity between the bank rate and the parallel market rate, causing widespread concern among government officials. Many fear that this economic crisis could lead to widespread protests that may threaten the stability of President Kiir’s government.
Efforts to address the economic challenges facing South Sudan are ongoing, with the government taking steps to stabilize the economy and alleviate the burden on its citizens. By implementing measures to control consumer prices, increase revenue collection, and support key sectors such as agriculture and transportation, South Sudan aims to create a sustainable economic environment for its people.
Despite the challenges, the government remains committed to finding solutions to the economic crisis and ensuring the well-being of its citizens. Collaboration among different sectors and government institutions will be crucial in overcoming these challenges and steering the country towards prosperity and growth.
Read the original article on Sudan Tribune
