Tag: R-TGoNU

Rome talks between R-TGONU & SSOMA postponed till further notice

Hon. Nhial Deng Nhial, Minister in the Office of the President : Courtesy

Rome talks between the government and the South Sudan Opposition Movements Alliance hosted by the Community of Sant’Egidio have been postponed indefinitely due to what the government described as a “last-minute” change.

“As you may be aware, the Delegation of (R-TGONU) was scheduled to depart today for Rome via Addis Ababa to participate in peace negotiations under your kind auspices, with the (SSUF/A) & Real SPLM components of (SSOMA),” said Nhial Deng Nhial, in a letter addressed to Paolo Impagliazzo, Secretary-General of the St. Egidio Community.

“I regret to inform you that this will no longer be possible due to last minute developments that are totally beyond our control. I am accordingly requesting postponement of the Talks till further notice.”

“We shall of course endeavor to propose a new date for the Talks as soon as the circumstances prompting our request for the postponement have abated. Accept Excellency the assurances of my highest personal regard and consideration.”

South Sudan’s government and the coalition of holdout groups have engaged in peace talks under the auspices of the St. Egidio Community in Rome. However, the parties disagree on some points each time they are close to finalizing a deal.

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Central Bank to inject liquidity into market to stabilize the economy

President Salva Kiir Mayardit meets the Council of Ministers in Juba on Wednesday, October 14, 2020 |Photo: PPU

Oct 15, 2020 (Thessherald)–As the country faces a bleak year of an economy collapse, the South Sudanese government has announced to inject millions of dollars into the financial market in an effort to boost the faltering economy.

South Sudan’s President Salva Kiir Mayardit and the Council of Ministers held an emergency meeting on Wednesday on the recent sharp depreciation of the South Sudanese pound against the US dollar on the black market.

In an official statement after the meeting, the President’s office unveiled that the government is in the process of securing sufficient loans and pumping millions of dollars into the market to help the economy gain momentum.

“President Salva Kiir and the government is in a final process of acquiring a loan that will be injected in the market to stabilize the currency rates. In addition, the Council of Ministers meeting also agreed to divert and inject the oil money into the market to help in the stabilisation of the market,” the Presidency announced on Wednesday.

South Sudan, after ending its conflict, has once again plunged into an economic crisis aggravated by poor monetary policies and corruption among senior government officials.

South Sudan’s government heavily relies on oil revenues

South Sudan is currently one of the most oil-dependent countries in the world with oil revenues accounting for 95% of government revenues.

Earlier this month, the country appointed a Tanzanian national, Dr. Patrick Mugoya as Commissioner-General of the National Revenue Authority, hoping to formulate an effective financial management system.

This was the second time that a regional economic expert has been assigned to oversee the country’s vital financial institution.

Reported by Buay Kapduel
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