Africa-Press – South-Sudan. The Ministry of Finance and Planning, in collaboration with the Central Bank, is taking steps to address the ongoing liquidity crisis in South Sudan while encouraging citizens to embrace digital payment systems.
The First Undersecretary at the Ministry, Garang Majak Bol, described digital payments as “safe, fast, and cost-effective” and emphasized their potential to boost economic growth.
Speaking during the welcoming ceremony of the newly appointed Minister of Finance and Economic Planning, Dr. Barnaba Bak Chol, Majak said the ministry remains committed to timely salary payments but encouraged beneficiaries to accept digital transactions.
“Central Bank is the father and the mother of the currency. The Ministry of Finance and the Central Bank are working hand in hand,” Majak said.“As you know very well, we handle the fiscal policies and the Central Bank handles the monetary policies. So, combined together, we are addressing the issue of the liquidity crisis in the market.”
He added: “However, we also encourage digital payment, of which you have seen the Central Bank launch a national payment system the other day. The whole world is going digital because it is safe, it is fast and cost-effective. So we also encourage all brothers and sisters to embrace digital payment because this is what will actually make our economy grow faster.”
Majak concluded that the ministry will continue to pay salaries on time while promoting digital platforms as a sustainable solution for the country’s financial challenges.
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