26th November 2022
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President Kiir sacks Agak, Makur in surprise decree

Author: Emmanuel J. Akile | Published: Thursday, August 4, 2022

Agak Achuil, the minister of finance during a press conference after returning from Washington DC in the U.S. Thursday April 5, 2022 - Credit | Lou Nelson/Eye Radio

President Salva Kiir has fired the Minister of Finance and Planning and the Governor of Bank of South Sudan, under unclear reasons.

Agak Achuil and Moses Makur have been relieved through presidential decrees readout on the state-run television, SSBC on Thursday evening.

In a separate decree, Kiir replaced Agak with Dier Tong Ngor, the former Governor of Central Bank.

He also replaced former Bank Governor Moses Makur with his First Deputy Johnny Ohisa as the acting governor.

Agak Achuil was appointed in November last year, replacing Athian Diing Athian, while, Moses Makur was appointed in January this year, as a replacement for the new Finance Minister Dier Tong.

The reasons for their removal was not mentioned.

However, the country is grappling with an economic crisis characterized by worsening inflation and skyrocketing commodity prices.

The country’s pound currency has been depreciating drastically, prompting experts to describe the economy as in hyperinflation phase.

Consumers have complained of a sharp rise in the prices of basic commodities, while traders also raised concerns over their inability to access hard currency for importing goods.

Moses Makur, Central Bank Governor speaking to media in Juba – Photo: Lou Nelson/Eye Radio – 11th Jan. 2022.

On Thursday – just few hours before his sacking, the Governor of the Bank of South Sudan announced an an increase in the amount of auctioning from $13 million to $20 million.

The new measure was to be in effect from mid-August as part of a mandate to ensure stabilization of commodity prices.

Moses Makur disclosed that they were working to ensure that the rate goes back to SSP 420 per 1 US Dollar.

Makur said, the bank will now raise the auctioning amount to 20 million US Dollars from August 15 to ensure presence of enough foreign exchange in the market.

Last month, the Central Bank auctioned nearly 50 million US dollars to forex bureaus and commercial banks as a measure to stabilize the skyrocketing exchange rate.

 

 

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