Home Business South Sudan's change of currency will not affect existing economic reality

South Sudan’s change of currency will not affect existing economic reality

KEY POINTS 

  • New currency in the country to improve the ongoing economic crisis.
  • The problem is with the way in which the government is running the economy.
  • The solution to this situation is for the government to engage the right people.

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A South Sudanese economic analyst has told the government in Juba that change of currency will not affect the pre-existing economic crisis in the world’s youngest country, and called for rejuvenation of relations with Washington and Western powers.

This comes a day after the government announced through the minister of information and government spokesman, Michael Makuei Lueth, that it will introduce a new currency in the country to improve the ongoing economic crisis.

Professor Akim Ajieth, a Juba-based economist, said the decision by the government will not change the current economic reality saying the problem is with the way in which the government is running the economy.

READ MORE:

South Sudan to change currency to improve economy - govt spokesman | News24

“Changing the currency is not going to be the solution. The problem is not with the currency, the problem is with the way our economy is being managed,” Ajieth said in an interview quoted by Radio Tamazuj.

The economist said the government should improve relations with the United States, the largest aid provider to the East African country, and its Western allies.

“The solution to this situation is for the government to engage the right people who can come up with strategies on how to reform the economy,” he said.

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