{"id":46425,"date":"2023-10-29T10:43:58","date_gmt":"2023-10-29T10:43:58","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise"},"modified":"2023-10-29T11:09:09","modified_gmt":"2023-10-29T11:09:09","slug":"central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise","title":{"rendered":"Central Bank warns pound is plummeting over civil servants pay rise"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>The Bank of South Sudan said on Friday it has observed that the United States dollar is \u201cmodestly\u201d strengthening against local currency due to the recent payment of civil servant\u2019s salary.<\/p>\n

The Central Bank Governor Dr. James Alic Garang said the public sector pay rise may potentially lead to adverse consequences, likely to be evidenced in commodity prices level.<\/p>\n

Dr. Garang said he was raising the concern in order for relevant financial institutions of the government to adopt policies to control the volatile situation.<\/p>\n

\u201cAs we approach the last quarter of 2023, the Bank of South Sudan has observed the modest strengthening of US Dolars again the South Sudanese Pound over the last one week, due to public sector pay rise,\u201d Dr. Garang told journalists at the Bank headquarters in Juba.<\/p>\n

\u201cThe pay rise may pose a potential risk in growth of broad money which could potentially lead to adverse ramification in general prices level.\u201d<\/p>\n

Garang said the Central Bank has undertaken several measures to contain the rising exchange rate.<\/p>\n

This include increasing the amount of hard currency auctioned to Forex and commercial banks as well as tightening monetary policies.<\/p>\n

\u201cThe bank will continue with tightening monetary policy stance while maintaining the 10% target for the money growth in broad Money,\u201d he said.<\/p>\n

\u201cWe will do so by maintaining the central bank interest rate at 15% until further notice. Third, increasing the volume of the weekly foreign exchange auction, and the last point that I would like to add on this specific polices measures, is that we will continue to strengthen policy coordination with fiscal authorities.\u201d<\/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. The Bank of South Sudan said on Friday it has observed that the United States dollar is \u201cmodestly\u201d strengthening against local currency due to the recent payment of civil servant\u2019s salary. The Central Bank Governor Dr. James Alic Garang said the public sector pay rise may potentially lead to adverse consequences, likely […]<\/p>\n","protected":false},"author":84,"featured_media":46423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-46425","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":"\nCentral Bank warns pound is plummeting over civil servants pay rise - South Sudan<\/title>\n<meta name=\"description\" content=\"The Bank of South Sudan said on Friday it has observed that the United States dollar is \u201cmodestly\u201d strengthening against ...\" \/>\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\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Bank warns pound is plummeting over civil servants pay rise\" \/>\n<meta property=\"og:description\" content=\"The Bank of South Sudan said on Friday it has observed that the United States dollar is \u201cmodestly\u201d strengthening against ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise\" \/>\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=\"2023-10-29T10:43:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-29T11:09:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/10\/sm_1698565064.8138.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\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Central Bank warns pound is plummeting over civil servants pay rise\",\"datePublished\":\"2023-10-29T10:43:58+00:00\",\"dateModified\":\"2023-10-29T11:09:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise\"},\"wordCount\":287,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/10\/sm_1698565064.8138.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\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/central-bank-warns-pound-is-plummeting-over-civil-servants-pay-rise\",\"name\":\"Central Bank warns pound is plummeting over civil servants pay rise - 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