Dr. James Alic Garang, the Governor of the Central Bank of South Sudan Juba. December 17, 2023. (Photo: Madrama James/Eye Radio)

The Central Bank governor is calling on the newly appointed Minister of Finance and Planning to stay committed to economic reforms by picking up from his predecessor.

Dr. James Alic Garang said former finance minister Dr. Bak Barnaba Chol embarked on strengthening the collection of non-oil revenue, was improving the payment system and revived the Agricultural Bank.

He advised the new finance minister, Engineer Awow Daniel Chuang, to continue the reform initiative to improve the economy in the near future.

“You have seen in the last few months, the minister of finance has gone to Nimule several times to ensure those reforms are put in place,” he said, narrating some of the economic reforms the former finance minister was undertaking.

“He wanted those checkpoints removed, and that everything must ensure revenue collection is done. That is a policy area that needs to be picked up because it has shown some fruits.”

“The minister of finance has also shown an interest in the last few months, in the area of agriculture. You have seen the reform that was made, especially the initiative that was made by the minister of agriculture along with the Agricultural Bank of South Sudan.”

“This was to make sure that as the planting season approaches, the minister of finance will start with the board to give them all the necessary tools that they need to ensure that our people are farming.”

Governor James Alic further called on Engineer Awow to continue with the policy of electronic cargo tracking system that the former minister introduced, as well as the national payment system.

“The other critical point is the introduction of electronic cargo tracking system, this is something that has a huge potential to increase our revenue collection, to ensure that this is an area that need to be picked up.”

“There is also the other element at the bank of South Sudan, and which is the national payment system, this is an idea where the governor has shown a huge interest, and the minister of finance was behind it day and night.”

Former minister Dr. Bak, who was appointed in August 2023, said he was determined to fix currency exchange rates and introduce policies crucial to economic recovery and reform in the country.

He said his top priority was to introduce economic reforms aimed at reducing the high inflation and strengthening the South Sudanese pound.

However, the exchange rate has spiraled out of control and civil servants have gone for more than five months now without salaries.