The Central Bank Governor, Dr Othom Rago Ajak, has been dismissed from office.
This was revealed at a consultation workshop on the East African Community, Regional Banking Certification Program in Juba on Thursday afternoon.
Dr Rago has been replaced with his deputy, Dier Tong.
“There is a change of management in the bank. Dier Tong Ngor is now the Governor of the bank of South Sudan replacing Othom Rago Ajak and Albino Dak Othow is now the Deputy Governor of the bank,” said Daniel Kwagwe Lomuja, the Director of Training of the Bank of South Sudan.
“We have no idea about the basis of the change because it’s the office of the president that decides who is to come, who is to go.”
It is not clear why the Governor was removed from his positions.
The dismissal comes amidst continuing ballooning inflation rates and fluctuating market prices and just months after the president revealed that the country is broke.
Dr. Othom was appointed to the government’s main monetary reserve in January 2017 after the former bank governor Kornelio Koryom was relieved.
During his appointment, Dr. Othom had promised to improve the economic situation of the country.