S. Sudan’s Central Bank issues statement on scarcity of hard currency
South Sudan Central Bank Logo (Photo via BoSS)
JUBA – The South Sudan Central Bank has issued a statement denying reports that it has a ran out hard currency, a day after the deputy governor of the Bank told reporters that the bank has run out of foreign exchange reserves.
Below is the full statement of the Central Bank of South Sudan signed by the Central bank Governor Jamal Abdalla Wani.
BANK OF SOUTH SUDAN (BSS)
Office of the Governor
Date: – 21″ August, 2020,
Press Statement.
The Bank of South Sudan denies accuracy of some reports circulated recently by the media. It noted that the impact of gloomy global economic outlook triggered by COVID 19 and lower oil prices have tolled negatively on the economy of South Sudan. The bank, in conjunction with the Ministry of Finance, seeks to secure the budget support to the Ministry through negotiation with IMF and World Bank.
It also seeks the balance of payments support. The bank is also unlocking other resources such as gold to supplement its reserve. It is also working in conjunction with other competent authorities to market Gum Arabic, with a view to diversify the economy.
Gamal Abdalla Wani Governor, Bank of South Sudan/Juba.
Cc: Director for Communication & PR
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