Africa-Press – South-Sudan. The Bank of South Sudan has unveiled a new roadmap for reforming the South Sudanese Pound (SSP) to combat inflation and address the cash liquidity shortages hitting the country.
In a press statement, the central bank announced that Governor Dr. Addis Ababa Othow chaired a high-level meeting to stabilise and manage the national currency, SSP.
The meeting convened the First and Second Deputy Governors, Directors General, and other key officials to develop a comprehensive currency reform plan and promote economic stability.
“This meeting marks a pivotal step in stabilising our currency. It’s an inclusive process designed to benefit all,” Othow emphasised.
The gathering followed Governor Othow’s establishment of the Currency Management Committee, tasked with reviewing the South Sudanese Pound’s structure, evaluating past reforms, and proposing changes aligned with national economic needs and regional standards.
The bank’s statement noted that discussions centred on enhancing monetary policy, resolving cash flow and liquidity issues, promoting digital banking, and bolstering the currency’s security features.
Governor Othow reiterated that the reforms aim to align with the Bank of South Sudan’s vision of ensuring price stability and fostering a robust, credible financial system.
First Deputy Governor Samuel Yanga Mikaya, who chairs the Currency Management Committee, pledged to deliver practical solutions. “We will thoroughly assess the situation and propose effective measures to tackle liquidity challenges,” Mikaya said.
Second Deputy Governor Rita Nyankiir Akoon described the meeting as “enlightening” and commended Dr. Othow’s decisive leadership on this critical national issue.
Last week, Finance and Planning Minister Dr. Marial Dongrin Ater disclosed that his ministry has been paying salaries without cash due to ongoing liquidity constraints.
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