JOHANNESBURG - South Sudan has run out of cash and the
economy will not be fixed unless the ongoing civil war is brought to a
halt.
President Salva Kiir openly admitted as much on Wednesday
and acknowledged that peace and stability had to return to the country
in order for investors and other money-generating activities to resume.
The South Sudanese leader attributed the cause of being a
cash-strapped nation to the war sparked by the power struggle which has
ended in a more than four-year conflict with no resolution in sight
despite global and regional efforts to salvage the situation, the Sudan
Tribune reported.
Kiir made his comments during the swearing-in process of new
finance minister following the sacking of predecessor Stephen Dhieu Dau
earlier in the week.
Acknowledging that nothing could be done to salvage the loss
value of the local currency, he urged government employees and citizens
to work together in conjunction with institutions to do whatever was
possible to mitigate the current situation.
The central bank has reported that it is no longer keeping
foreign currency acquired through the sale of the proceeds of oil but
only receiving and keeping local currency which is acquired from the
direct sale of foreign currencies on the market.
African News Agency (ANA)
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