Dr. James Alic Garang, the Governor of the Central Bank of South Sudan - Courtesy

The Governor of the Bank of South Sudan said the government will issue a license to legalize activities of informal hard currency dealers in a bid to tame non-compliance to economic reforms.

Dr. James Alic Garang made the remark at a joint press conference organized with the Ministry of Finance and Planning on Saturday, where he unveiled his war strategies against the economic crisis.

The Bank Governor said the initiative is not to outlaw the roadside and under-tree currency dealers but to encourage them to find formal spots to execute their businesses.

“All over Juba, we have currency traders, those who buy and sell hard currency. It’s not saying that we will outlaw them, no,” he said.

“What we are saying is that we will ask them to organize and become more formal and find places and spots in Juba where they can do their businesses in a formal way.”

Dr Garang said the law enforcement agency will help the bank by professionally discharging its duties for the realization of the reforms.

He said the move will ensure that no one sells dollars on the streets or under trees without an appropriate license from the government regulating institution.

“This will allow us to eliminate informal exchange dealers. The agencies responsible for enforcement will discharge their duties in a very professional way where we are telling the citizens, carry on with your activities but do it a way that is formal and that is organized.”

“The economic agency will discharge their duties to tame any non-compliance including, by ensuring that no one sells dollars on the streets or on the open or under trees without

The Bank Governor said the initiative is not to outlaw the roadside and under-tree currency dealers but to encourage them to find formal spots to execute their businesses.

“What we are saying is an appropriate license from the regulator.”