Economy S. Sudan seeks currency acceptance for transaction

S. Sudan seeks currency acceptance for transaction

Ateny Wek Ateny
Presidential spokesperson Ateny Wek Ateny

(AA) – South Sudan is engaging in talks with neighboring countries with a view to accepting its currency for transaction amid a dollar deficit and high inflation in the war-torn country.

“We are in talks with the authorities of Uganda and Kenya so that they can accept us to trade directly with their governments using our pounds,” presidential spokesperson Ateny Wek Ateny said Saturday.

“There is already negotiation going so that they can accept the pounds close to the bank rate of the dollars,” he added.

“We have to make the pounds more available in Kenya and Uganda and also make their shillings available in South Sudan banks,” the spokesperson said.

South Sudan is in a political crisis which has ploughed on for the last 15 months pitting sacked vice president Riek Machar in a rebellion against the government of President Salva Kiir.

Falling global oil prices have also hard hit South Sudan’s revenue earning, aggravating the economic situation in the country.

Tens of thousands have reportedly been killed in subsequent violence, with some 2 million uprooted from their homes and 2.5 million at risk of starvation, according to recent UN estimates.

On-again, off-again peace talks in the Ethiopian capital between the warring parties have failed to reach a breakthrough.

Previous articleCriminal charges announced against Baltimore police officers in Freddie Gray’s death
Next articleBodies of Australians executed in Indonesia arrive home