Government says it will not allow transfers that exceed $10,000 outside the country

JUBA – South Sudan government has announced that it will not allow transfers of amount exceeding $10,000 to destinations outside the country, according to the petroleum minister Puot Kang Chuol.

The announcement by the Economic Crisis Management  Committee (ECMC) comes as the country’s economy sees setbacks caused by corruption, decline of oil prices and the coronavirus pandemic.

“Transfers to destinations outside the country should not exceed 1000 US dollars. This is basically to say if you want to send money outside South Sudan, it must not exceed 10,000 US dollars otherwise you will explain why you are sending such a huge amount,” Puot who is also the spokesman of the ECMC told reporters on Tuesday.

The senior government official said those involved in transfers must declare the transactions and that all transactions must be carried out through banking system.

“All transfers into South Sudan should be announced as soon as transfers are done. We want all transfers to be declared,” he said.

“There must be declaration to that effect and the money must come in through banking system, not outside the banking system be it at the borders or the airports, we are instructing all security agencies not to allow any amount beyond this unless it is declared or it is for government purposes not individual purposes,” he further added.