Category: Economy

Economy

Uganda to cushion S-Sudan runway inflation

The government of Uganda says it will supply South Sudan with sufficient basic commodities to address the current high prices.
A delegation from Uganda discussed with President Salva Kiir the plan to ensure a sufficient supply of basic commodities to South Sudan, the Presidential Press Unit reported.
Lt. Gen. James Mugira Gen. Mugira who led the delegation said the move is aimed at stocking South Sudan’s markets with excess basic commodities, hence lowering the prices.
He said they discussed with the President, consolidating the existing bilateral relations between Juba and Kampala.
The move comes as South Sudan currency has exponentially weakened against the US dollar resulting in high commodity prices.

Gov’t reserves enough to address current inflation -officials

The Government on Friday said it has enough reserves to address the current inflation in the market.

The announcement comes after Finance Minister Dr Dier Tong Ngor and Central Bank Governor Johnny Ohisa Damian briefed President Kiir on the latest monetary plans for the country.

Minister Dier said the institutions are going to inject enough dollars into the market to meet the high demand for hard currency, the presidential press unit reported.

“We have reached a concrete solution to avail dollars into the market to address the high inflation”, the press unit cited him as saying, and that this, would bring down consumer prices in the market.

For his part, the Central Bank Governor Johnny Ohisa Damian said the Bank is going to be financing the import of essential commodities into the country.

 

 

Continue reading Gov’t reserves enough to address current inflation -officials

error: Alert: Content is protected !!
Exit mobile version