AFRICA

South Sudan’s President Salva Kiir Dismisses Finance Minister After Four Months In Office

South Sudan’s President Salva Kiir has dismissed Finance Minister Awow Daniel Chuong, who had been in the position for just four months, according to a report by state-owned television on Wednesday. This marks the sixth time the finance minister has been replaced since 2020. No reasons were provided for Chuong’s dismissal.

Economist Marial Deng has been appointed as the new finance minister. Deng steps into a role fraught with challenges as South Sudan grapples with a beleaguered economy that is worsened by communal violence, dwindling crude oil revenues, and disruptions in exports due to ongoing conflict in neighboring Sudan. The civil war from 2013 to 2018 significantly impaired the nation’s oil production, which is a critical source of income.

In May, Central Bank Governor James Alic Garang revealed that South Sudan’s foreign exchange reserves were at historic lows. The economic pressure is further illustrated by the International Monetary Fund’s projection of consumer price inflation soaring to 54.8% this year.

President Kiir, who became the first leader of South Sudan following its independence from Sudan in 2011, is facing increased scrutiny as the country approaches its presidential, parliamentary, and regional elections slated for December. The frequent changes in the finance ministry highlight the ongoing challenges in stabilising the nation’s economy and managing its fiscal policies amid persistent internal and external pressures.

Melissa Enoch

Follow us on:

AriseNews

Recent Posts

Benedict Oramah Receives Mohammed Barkindo Lifetime Achievement Award for Transformative Impact on African Energy Sector

Afreximbank President Oramah has been honoured with Mohammed Barkindo’s Lifetime Achievement Award for advancing Africa's…

54 mins ago

Lower The Temperature, Don’t See Yourselves As Adversaries But Fellow Americans, Biden Says To Americans Post Trump Win

In a post-election address, US President Biden urged Americans to lover the temperature in the…

1 hour ago

I’m Ready To Surrender, I Have Nothing To Hide, Obaseki Says In Response To Rumours Of Impending EFCC Arrest

Edo Governor Obaseki has said he is not afraid of being arrested by the EFCC,…

2 hours ago

Morocco’s Population Reaches 36.82 Million, Up 8.8% Since 2014 Census

Morocco's population has reached 36.82 million, an 8.8% increase since 2014, with a significant rise…

2 hours ago

DHQ Declares Nine Lakurawas Terror Suspects Wanted, Cites Border Security Breach Following Niger Coup

Nigerian Defence Headquarters has declared nine suspected Lakurawas terrorists wanted after cross-border infiltration from Niger…

2 hours ago

Equatorial Guinea Anti-Graft Boss Engonga Sacked Amid Sex Scandal

Equatorial Guinea President Teodoro Mbasogo has fired anti-corruption agency chief Baltasar Engonga over his alleged…

2 hours ago