The National Legislative Assembly

Members of the National Legislative Assembly have criticized the devaluation of the South Sudanese Pound.

Hon Deng Athorbei and the Central Bank Governor, Kornelio Koryom, have announced that the official rate of 2.96 has been cancelled.

The exchange rate will now be determined by market forces. In the parallel market, the rate was 19.5 on Wednesday.

However, MPs say the matter should have been discussed in the National Legislative Assembly before the announcement.

“The minister was supposed to come before the committee…to explain these measures that he has taken. What are the consequences of these measures?” Said Goch Makuach, Chairperson of the Specialized Committee of Finance and Economy.

A group of MPs said the best way to stabilize the pound is to make a lasting peace.

“The difference in our currency, the realignment of our currency, is because of the absence of peace,” said Ahmed Mohamed Musa, representative of a constituency in Western Bahr el Ghazal.