South Sudan’s President Salva Kiir Mayardit has sacked the Minister of Finance and appointed Hon. Dier Tong Ngor to fix the deteriorating economy and high inflation facing the country’s local currency.
On Thursday, Kiir sacked Hon. Agak Achuil Lual in a presidential decree read on the state-run television SSBC, a day government extended the transition period.
The President also appointed the central bank’s first deputy governor, Johnny Ohisa Damian, will replace Moses Makur Deng as governor in an acting capacity.
There was no reason given for their replacements.
The new Minister was a former governor of South Sudan’s Central Bank who was relieved in January this year.
Hon. Dier Tong’s appointment came at a time the country is struggling with the high rate of inflation and depreciation of the local currency against the United States Dollars.
According to the Central Bank daily rate, 1 US dollar is selling at 664 SSP but it costs 700 Pound to buy dollars in the black market.
Former Minister Acuil was appointed as finance minister in 2021 and presented the 2022/23 budget to the transitional National Legislative Assembly on Wednesday this week.