Please, Re-introduce pegged exchange rate system to stem economic haemorrhage
4 min readThe Governor of the Central Bank should re-introduce pegged exchange rate system to stem economic haemorrhage in South Sudan
By Daniel Machar Dhieu, Juba, South Sudan
March 2, 2017 (SSB) — Our country, South Sudan is in danger; criminal cases increased day by day and no any solution to these crimes activities which affecting the nation at this time. The situation becomes worsen and more uncontrollable in all corners of South Sudan.
This has shown clearly that there is no improvement at this juncture of hunger and insecurity of which no solution provided by our government. The only step taken by government was declaration of famine in all parts of South Sudan.
The government seems to have failed in handling its affairs across the nation, and this has been since comprehensible especially in the sector of economic management as the worse area in the government. The main central bank of South Sudan is in-charge of sponsoring the current black market in Juba. It was Central Bank policies that push US dollar at floating rate toward black market.
The Central Bank law makers did not make great analysis on how this policy will work toward ending national economic crisis. Afterward, the policy created more problems to local people across the nation. Market become more expensive as the result of black market high exchange rate policy in the country, the local people are more affected by this strategy.
Black market group are criminals to the system, and the government has allows to worry the nation by grapping the national economy without guiding principle. I would therefore ask the central bank governor to create the fixed rate to challenge the black market position and to minimize the number of crimes rock the city.
This has actually disturbs my heart, and therefore require me to have opinion on our national affairs as concern citizen of this nation because our leaders have failed us in their regime. The fall of this nation is the great mistake inflicted to us by our leaders; they have done a lot on corruption, killing of innocent’s people and denied our resources.
I would therefore suggest that, if the president would allows the entire citizens of South Sudan to decide on who will manage Central Bank affairs, person with the spirit of nationalism, quality of valuing the fellow South Sudanese national and creative and reasoning capacity to fight black market group. In relation to above statement, I would ask our government to quit from the policy of profit making to the policy of recuing the nation which is already at badge of collapsing.
I would furthermore invest this idea to government, if the government would identify some businessmen to make supply of some foods items such as flour, beans, rice, cooking oil, etc and petroleum items then paid later by the government after delivering the goods to all towns and villages of South Sudan to lessen the high demand of US dollar in the nation. This idea will help the government if well guided.
Let create commitment to invest in growing our economy, strengthening the middle class, and helping those working hard to join it for our national better future. Let be develop our national interest to provide more direct help to those who work for national affairs other than self interest.
Let be committed to public investment as the best way to spur economic growth, job creation, and broad-based prosperity. Also let be committed to our national affairs to be responsible, transparent fiscal plan for challenging economic season if come across.
At this time, I expect all South Sudanese to hold themselves accountable for delivering services to their areas as part of development to prove their commitments, and furthermore I expect the government to do the same through provision of services to local people and collectively to improve economic opportunity and security for South Sudanese people.
It is my expectation that we will deliver real outcome and professional government to entire world focusing on the important of our struggle. To ensure that we have a strong focus on results, I will expect South Sudanese beneficiaries to track and report on the progress of our national progress; assess the effectiveness of national development; and bring into line our resources with priorities, in order to get the results we want.
In my point of view, I’m asking the Governor of Central Bank and those working in central Bank to rethink again and settle the issue of floating of rate exchange toward black market to at-least have fix rate and avail it’s to all people who may be interested of getting US dollar, this policy will recapture black market progress as soon as possible if well guided.
Also am requesting all South Sudanese nationals to come back home to rebuild our nation through loving each other and forgiving each other of whatever wrong we had reached upon.
The writer is the Independent Journalist, and Student at South Sudan Christian University, Juba South Sudan. Contact him through machardhieu@gmail.com
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