The Government of South Sudan will start borrowing South Sudanese Pounds from Commercial Banks at the rate of seven percent, discloses the undersecretary in the Ministry of Finance.
Salvatore Garang says the government will borrow from commercial banks to cater for development and security, Radio Bakhita reports.
Kornelio Koriom, the Central Bank Governor says the borrowing from commercial banks will help fight inflation and bring about stability of the exchange rate in the country.
The Ministry of Finance, Commercial Banks and the Bank of South Sudan had already agreed on the borrowing deal before press briefing this week.