South Sudan’s Kiir sacks finance minister

July 27, 2016 (JUBA) – South Sudan’s President Salva Kiir has fired the country’s finance minister, David Deng Athorbei amid the worsening economic crisis in the nation.

Kiir, in the same decree also relieved Trade and Industry Minister Stephen Dhieu Dau and his Mining counterpart, Taban Deng Gai.

Gai was appointed the country’s First Vice President to replace armed opposition (SPLM-IO) leader, Riek Machar by decree 289. A separate decree 290 appointed Dhieu as the new finance minister.

South Sudan economy has deteriorated since December 2015 when the government floated exchange rates for local South Sudanese Pound (SSP) against the US dollar.

Inflation in the country, economists say, has risen by 300% in the last seven months.

Observers say despite being oil-rich, South Sudan is likely to record negative Gross Domestic Product (GDP) growth in 2016 after growing by 30.7 percent two years ago, largely due its ongoing conflict, decline in oil production and the global fall in oil prices.

(ST)