Man counts a bundle of 50 SSP notes. [Photo: ELRHA]

A lawmaker called for action in response to the South Sudan pound’s collapse against the US dollar in the parallel markets.

Hon. Natelina Amjama Malik, the Deputy Chair of the Information Committee raised the concerns during a parliamentary sitting discussing the amendment of the National Bureau of Statistics bill for 2024.

She reported that $1 was being sold for 4,100 South Sudanese pounds on Tuesday, 23, 2024, in Juba’s parallel markets.

Natelina called on the assembly to summon Finance and Planning Minister Dr Marial Dongrin to explain the significant rise in the exchange rate, which she said burdens citizens and negatively affects the local economy.

“My information, Right Honorable Speaker, Honorable Members, is that the rates of the dollar in the market have risen. Today, it’s 410,000 pounds per 100 US dollars, but tomorrow I don’t know,” said Hon. Natelina.

“My information is going to the economists of the Republic of South Sudan because whenever the economy is going bad like this, the economist should sit with the Minister of Finance and discuss it,” she said.

“This is not what we want for South Sudan. We need to take action. Where is this going? So, Right Honorable Speaker, I urge the august house to call the Minister of Finance to come to the house so that we can discuss this issue of hunger.”

For her part, Speaker Jemma Nunu Kumba stressed the importance of addressing the issue seriously and considering necessary measures to mitigate its impact on citizens and the economy.

She confirmed that the minister would be summoned to answer questions related to the dollar and other economic issues.

“The minister will come. He will come soon, anytime he’ll be here because we have many bills that are related to the minister of finance, and he is supposed to be here today but he is having other meetings,” Speaker Nunu said.

Discussions on this matter are set to continue in the coming days, amid increasing pressure on the government to find effective solutions to this escalating economic crisis.

These developments highlight the challenges facing the country’s economy and the need for the government to ensure currency stability and improve living conditions.

As of today, the US dollar is being sold at rates ranging between 410,000 and 420,000 South Sudanese pounds.

Civil servants and organized forces have gone nearly ten months without receiving their salaries and arrears. South Sudan’s economy has been hit hard by the ongoing conflict in Sudan, which has disrupted oil flow, the country’s primary income source.

Last week, President Salva Kiir instructed the new finance minister to prioritise paying civil servants’ salaries.

President Kiir acknowledged that there is sufficient revenue from non-oil sources generated by the South Sudan Revenue Authority.