{"id":43729,"date":"2023-09-14T15:13:13","date_gmt":"2023-09-14T15:13:13","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks"},"modified":"2023-09-14T16:02:55","modified_gmt":"2023-09-14T16:02:55","slug":"economist-seconds-closure-of-underperforming-commercial-banks","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks","title":{"rendered":"Economist seconds closure of underperforming commercial banks"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>Central Bank Governor Johnny Ohisa Damian\u2019s recent remarks before the national parliament on Monday where he contemplated the closure of underperforming commercial banks has received support from a prominent economist.<\/p>\n

John David, the Executive Director of the Diversity Center for Economic Studies, said that the move could be instrumental in revitalizing South Sudan\u2019s economy.<\/p>\n

Speaking with Radio Tamazuj on Wednesday, David expressed concerns about the financial health of most commercial banks in South Sudan, labeling them as undercapitalized and underperforming.<\/p>\n

\u201cI think the statement made by the Central Bank Governor about closing underperforming commercial banks is right,\u201d he said. \u201cIf you look at the banks operating in South Sudan, you will find that they are undercapitalized and performing poorly.\u201d<\/p>\n

\u201cThat is why the majority of people in the country have lost trust in the banking system and are keeping their money at home,\u201d David added.<\/p>\n

David went further and proposed the merging of underperforming banks with high-performing ones to create a more robust and efficient banking system capable of offering top-tier services to the public.<\/p>\n

Regarding the Central Bank Governor\u2019s proposal to change the national currency, the economist expressed reservations and said that given the current economic and political instability in the country, altering the currency might not yield the desired results.<\/p>\n

Presently, South Sudan has approximately 12 licensed local commercial banks.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. Central Bank Governor Johnny Ohisa Damian\u2019s recent remarks before the national parliament on Monday where he contemplated the closure of underperforming commercial banks has received support from a prominent economist. John David, the Executive Director of the Diversity Center for Economic Studies, said that the move could be instrumental in revitalizing South […]<\/p>\n","protected":false},"author":84,"featured_media":43728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-43729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nEconomist seconds closure of underperforming commercial banks - South Sudan<\/title>\n<meta name=\"description\" content=\"Central Bank Governor Johnny Ohisa Damian\u2019s recent remarks before the national parliament on Monday where he contemplate ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economist seconds closure of underperforming commercial banks\" \/>\n<meta property=\"og:description\" content=\"Central Bank Governor Johnny Ohisa Damian\u2019s recent remarks before the national parliament on Monday where he contemplate ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-14T15:13:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-14T16:02:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/09\/sm_1694694646.013109.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Economist seconds closure of underperforming commercial banks\",\"datePublished\":\"2023-09-14T15:13:13+00:00\",\"dateModified\":\"2023-09-14T16:02:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks\"},\"wordCount\":243,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/09\/sm_1694694646.013109.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-seconds-closure-of-underperforming-commercial-banks\",\"name\":\"Economist seconds closure of underperforming commercial banks - 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