The devaluation of the South Sudanese Pound is a perpetuation of poverty
Why government of South Sudan fails to meet the target inflation rate against local currency?
By Abraham Majur Mading, Kampala, Uganda
December 17, 2015 (SSB) — It seems to me that foreign currency effectively became part of local money supply in the country economy and the exchange rate became increasingly out of touch with economic deep-seated speed depreciation of local currency with it unfortunate consequences that become especially evident in financial crisis, the governor of South Sudan central bank and ministry of finance and economic planning may to be seeming ill-equipped to deal with an economy crisis of the nation.
The collapse of South Sudan economy is brought up forward at this time by the failure of the central bank system policy, people may never if the collapse of economy was inevitable, but the manner in which they went and indeed damaging of South Sudan government economy. The damage to the economy is catholic and the exchange rate of foreign currency against local South Sudanese pounds has fallen stridently and the government to meet the demand of people is very much in uncertainty.
How cans South Sudan central bank with poor record of financial try to convince the citizens that it has change its ways by building high inflation inclination which involves a choice of considerations of risk decision, the rate that central bank put on is the higher inflation which will elevate fears of country future depression so the beat around the bush by exchanging local currency for dollars assets.
Leadership does not rise out of corrupt and selfish mindset, it comes out from the people who known’s their country well, have experienced and know it problems and who feel so strongly about the nation problem to want to make a differences for the better.
South Sudan is slipping back rather than putting in place building blocks for the nation to move ahead where people are facing food shortage. This situation of South Sudan cannot be better explain for this economic crisis, this have no doubt that we have been impelled by the difficulties the country is going through on the economic façade with seeming lack of real direction.
If some lose their whole fortunes they will drag many more down with them believe me, a nation can survive it fools and even the ruthless for the traitor appears no traitor, one may say that there were no real human villains that given the economic and political cue.
To see economic policy as a problem of choice between challenger’s ideologies in South Sudan, it is difficult our problem stem from our acceptance of this dirty, rotten system people say what is the sense of our effort. They cannot see that we are reclining down but they have fire behind them since they have seen nothing but the shadows the regard, those shadows.
I believe that with all proxy bank exchange impose in South Sudan is more dangerous to our liberties than standing; poverty is something to be ashamed of in this country. This economic instability will continue to threaten social stability of South Sudan.
People have been pushed into extreme poverty by the government as a result of this financial crisis, economic marginalization and destitution which will lead to social turbulence and political unsteadiness.
The main cause of corruption in South Sudan is because South Sudan is running by foreigners people if you observe all officials their families are not staying within the country, how can the country developed while all salaries of government officials are going outside monthly without benefit of the country and the root cause of development is the rotation of money within the country meanwhile our government need to apply the policy of building schools for education and healthcare centers, scheme or programs and addition to that restriction of foreigner currency (us dollar).
The definition of South Sudan government officials they are just be defined as enemies of the state. This such of behaviors shows that everyone within the government is running the government as his own project to do anything he want to do which is nearly very big corruption.
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