Africa-Press – South-Sudan. President Salva kiir on Thursday invoked the constitutional provision that provides for the independence of the Bank of South Sudan to execute it’s statutory and supervisory functions.
The move is also in line with implementation of the 2018 peace agreement.
The republican order invoking the mandate of the Central Bank was read on the state-run national broadcaster TV, SSBC.
“Article 182 (8) of the constitution read together with section (7) of the Bank of South Sudan Act amended at 2023 stipulates that the Bank of South Sudan shall be independent in its statutory and supervisory function,” the state reads.
This mandates the Bank of South Sudan to independently exercise its powers and functions without any interference from other government institutions and individuals.”
It ensures that the banks independently implement monetary polices that promote domestic price stability, currency issuance, regulation of the financial sector, holding and managing the official exchange reserves of the country as well as implementation of it independent recruitment policy.
Mr. Kiir directs the Bank of South Sudan to work hand in hand with other financial institutions and including individuals to implement the order.
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