January 15, 2017 (JUBA) – South Sudan President Salva Kiir has fired the country's Central Bank governor, amidst the worsening economic situation in the young nation.
President Kiir dismissed governor, Kornelio Koryom Mayik and his deputy John Dor through a decree announced on South Sudan Broadcasting Corporation (SSBC).
In a separate decree, the South Sudanese leader appointed Othom Rago Ajak and Dier Tong Ngor as the new governor and deputy governor respectively.
Both the new governor and his deputy were serving in the Central Bank as directors.
In a separate decree announced by President Kiir on Saturday, the deputy minister of finance, Mary Javes Yak and ministry's undersecretary Salvatore Garang were sacked.
The president appointed Mou Ambrose Ring Thik as the new deputy finance minister.
South Sudan is experiencing tough economic crisis with the local currency (SSP) losing 80% its value after it was floated against the United States dollar nearly 12 months ago.
Prices of the items have also surged in markets as government struggles to pay its staff.
The president did not, however, indicate why he made changes in these two institutions.
(ST)
January 15, 2017 (KHARTOUM) - The U.S. dollar price has swung lower on the black market in the Sudanese capital, Khartoum following the U.S. decision to ease the economic sanctions imposed on the east African nations for two decades.
On Friday, the outgoing U.S. President Barack Obama signed an executive order to ease sanctions against Khartoum enabling trade and investment transactions to resume with Sudan.
Last November, Central Bank of Sudan (CBoS) introduced an incentive policy, increasing the exchange rate in commercial banks by 131%. As a result, the U.S. dollar exchange rate went up in banks to 15.8 SDG from the official rate of 6.5 SDG.
Following the CBoS decision, the dollar price went up and settled at 19,4 pounds on the black market.
Traders in Khartoum on Sunday told Sudan Tribune on the condition of anonymity that the dollar price ranged from 14 to 17 Sudanese pounds (SDG), saying they refrained from buying the dollar in fear of a further decline in its price.
According to the traders, the U.S. decision caused uncertainty and the dollar price fluctuated from 14 to 17 pounds.
It is noteworthy that Sudan's Finance Minister Badr al-Din Mahmoud on Saturday announced they are developing a comprehensive plan to review the foreign exchange policy in light of Washington's decision to ease sanctions.
Sudan has been under American economic and trade sanctions since 1997 for its alleged connection to terror networks and remains on the U.S. list of state sponsors of terror. The first batch of sanctions restricts U.S. trade and investment with Sudan and block government's assets of the Sudanese government.
Additional sanctions in relations with the conflict in Darfur region were introduced by two Executive Orders in 2006.
(ST)
January 15, 2017 (KHARTOUM) - Sudanese Council of Ministers on Sunday has decided to extend the unilateral cessation of hostilities in war zones for six months.
The Sudanese army has been fighting the Sudan People's Liberation Movement/North (SPLM-N) rebels in Blue Nile and South Kordofan, also known as “Two Areas” since 2011 and a group of armed movements in Darfur since 2003.
In June 2016, President Omer al-Bashir declared a unilateral four-month cessation of hostilities. In December, he extended the ceasefire for one month following a two-month extension declared in October.
According to the official news agency SUNA, the Sudanese cabinet held an extraordinary session on Sunday headed by al-Bashir and decided to extend the ceasefire for six months.
The government decision appears to be part of a roadmap agreement between Khartoum and Washington that prompted the latter to ease the economic sanctions imposed on Sudan since 1997.
On Friday, the outgoing US President Barack Obama signed an executive order to ease sanctions against Sudan enabling trade and investment transactions to resume with the east African nation.
He said the move intends to acknowledge Sudan's efforts to reduce internal conflicts, improve humanitarian access to people in need and curtail terrorism.
It is noteworthy that the SPLM-N, the Sudan Liberation Movement-Minni Minnawi (SLM-MM), and the Justice and Equality Movement (JEM) in October extended for six months the unilateral cessation of hostilities in Darfur, Blue Nile and south Kordofan they declared in October 2015 and April of this year.
Following six days of talks in Addis Ababa last August, the armed movements and the government failed to conclude a deal on the security arrangements and humanitarian access in Darfur and the Two Areas prompting the African Union mediation to suspend the talks indefinitely.
(ST)