BREAKING: Central Bank Governor, Deputies, Others Sacked, Replacement Announced (DETAILS)

BREAKING: Central Bank Governor, Deputies, Others Sacked, Replacement Announced (DETAILS)

South Sudan’s President Salva Kiir attends a meeting with Russia’s President Vladimir Putin at the Kremlin in Moscow, Russia, September 28, 2023. Sputnik/Vladimir Astapkovich/Pool via REUTERS/File photo Acquire Licensing Rights

South Sudan’s President Salva Kiir has dismissed central bank governor Johnny Ohisa Damian and several other high-ranking finance officials, as announced on state television. This marks the second time he has replaced a central bank chief in a little over a year.

The announcement, made late on Monday, did not provide a specific reason for Damian’s removal or the appointment of James Alic Garang, an advisor to the International Monetary Fund, as his successor.

Kiir also appointed new deputy governors for the central bank, along with changes in the leadership of the government’s revenue authority and other senior officials in the finance and trade ministries.

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Frequent and sudden changes in the leadership of the central bank and finance ministry have been a common occurrence in recent years. In 2020 alone, the central bank governor was replaced twice.

Damian assumed the role in August 2022 after Moses Makur Deng was removed.

South Sudan’s economy has been struggling since the onset of a civil war in 2013, which led to about a quarter of its population seeking refuge in neighboring countries. The conflict severely impacted oil production, a major economic driver. While crude output has shown some improvement in recent years, it has not yet returned to pre-war levels. Additionally, other sectors like agriculture have seen significant declines. In 2020, the compounding effects of the COVID-19 pandemic and plummeting oil prices further exacerbated South Sudan’s economic challenges.

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