Kiir directs incoming central bank chief to fix economy, soaring prices

JUBA – President Salva Kiir Mayardit has directed the newly appointed Governor of Central Bank of South Sudan, Dier Tong Ngor, to stabilize the deteriorating economy and the soaring basic commodity prices.

The South Sudanese head of state made the directives during the swearing-in ceremony of Ngor that was administered by the country’s Chief Justice Chan Reech Madut at the statehouse J1 on Wednesday morning.

“I appealed to you to work hard with your colleagues from the banking system and the concerned   institutions to stabilize the market price,” Kiir told the official.

He urged to the bank official to always consult with his colleagues and concerned institutions on how to address issues of the economy.

“It is upon all of us to work collectively as a team to recover the economy that has been affected by the external factors,” President said.

For his part, Ngor reiterated his readiness to work closely with the Office of the President, Financial Institutions, and all the stakeholders, to stabilize the soaring basic commodity prices in the market.

“I have worked in the bank for years and I assure you the people of South Sudan that I will improve the banking system,” Dier said.

The Deputy Governor of the Bank of South Sudan, Daniel Kech Pouch, appreciated President Kiir for putting his trust in Dier.

President Salva Kiir appointed Ngor on Monday, replacing Gamal Abdalla Wani who had replaced him in January this year.