South Sudan’s Kiir strives to fix hailing economy

Until he granted autonomy to the Central Bank month, Kiir has been making changes in the bank and the Finance ministry, requesting other government institutions to coordinate and implement his directives to help the bank fulfill its constitutional mandate and carry out duties and functions without any interference.

But in March 2024, the president made changes in the Finance ministry, sacking Barnaba Bak Chol and replacing him with Awou Daniel Chuang who was removed on July 11.

Speaking at the swearing-in ceremony of the new Finance minister Marial Dongrin Ater, the president said he would not stop making changes until  he gets someone with right skills and knowledge to fix the economy

“I understand you have been in the national revenue authority and know how money is being collected from the people.  So, You make a network to get the money and then find  the solution. The solution will be that you must  have one account, one  single account because the money, which is collected,  everyone has own account.  And these accounts do not come to the people (bank of the government). Everyone goes and takes to his big person he knows. Otherwise, we have a lot of money and I am looking for solution,” said Kiir.

He added, “This is why I bring somebody today and kick him out tomorrow and bring another person”.

The South Sudanese leader requested for patience from his administration as he struggles to fix the dire economy.

“It is everything I have tried. When I succeed to get a right person, I will hold firmly and tell him you works.  We have nine solid months; people have not received their salaries and we have money.  The money from non-oil revenues is enough to pay people and to do everything.  Let us believe that you will. So, I give you a very  limited time to see what you will do”, he said.

Analysts are concerned as to whether regular changes as part of the hunting for someone with the right skills and knowledge will stabilize the economy which has been performing abysmally since 2013 when war erupted, driving away foreign investors and displacing people from homes, disrupting food production and making them dependent on humanitarian handouts instead of producing own food to eat and sell the surplus to earn foreign currency.

War and climate change-induced floods in different parts of the countries in Bahr el Ghazal, Upper Nile, and Equatoria have been compounded by the disruption in the flow of the crude oil exported through Sudan to the international markets.

The ongoing war between the rival Sudanese fighters has greatly affected one of the pipelines that takes 60% of the crude oil to the international market through Sudan. the disruption has a great impact on the oil revenue upon which the country and its leadership depend.

This economic situation has always been challenging to address by successive ministers and many analysts are doubting if the new Finance minister will make a difference.

He expressed his optimism in addressing the situation, saying he has been part of the system and knows how to deal with the challenges facing the country.

“I am alive to the reality of the situation”, said the Finance minister after he was sworn in on Friday.

He did not elaborate on who would handle the situation.

The minister of Cabinet Affairs, Martin Elia Lomuro pledged readiness to help the new minister, urging him to look for ideas to help him address the situation.

“We will work together and you may find ideas from this corner to that corner which will push you to achieve the objectives but It is a serious challenge to the president himself. You know how many ministers we have had, nearly seven since, and you are the number seven now. And some of them six months, one year.  Like that. You really have to focus, help him, help the country”, said Lomuro.

Economists and other experts have not shied away at pointing out where failure is recorded, citing regularly and wondering what miracle the new minister who inherited a struggling economy with shortages of foreign exchange, a weak local currency, falling oil production, and corruption in the collection of non-oil revenues, would not fix the economy.

Some argued he would fill his pocket and go the same way his predecessors have left with no tangible efforts on the economy.

(ST)