South Sudan allocates 1 crude oil monthly shipment for salaries

JUBA – South Sudan government on Monday said that it has decided to allocate at least one monthly shipment of crude oil for civil servants’ salaries, according to the country’s minister of finance.

According to the presidency, the decision was reached during a meeting between President Salva Kiir Mayardit and ministers of finance, petroleum, central bank governor, as well as the presidential affairs minister.

“His Excellency President Salva Kiir Mayardit has today (Monday, 1st August 2022), received briefings about the current economic situation in the Country especially on how to mitigate the rising prices of food commodities in the market, dollar rate and payment of salaries and arrears,” the presidency said in a statement.

“After thorough deliberation on the current economic situation, the meeting agreed for a short term solution to stabilize the economy as it continues to work for the long term solutions,” the presidency statement further said.

Speaking to the media following the meeting, minister of finance and planning Agak Achuil said the meeting has agreed to allocate at least one cargo shipment on monthly basis for the civil servants’ salaries.

“We have agreed that, one cargo of crude will be earmarked for salaries, and every month that cargo will be sold in form of dollars and proceeds will come to the Ministry of Finance and Planning and therefore the Ministry of Finance through the Bank of South Sudan will pay the salaries and arrears, by buying the South Sudanese pounds from the bank of South Sudan,” Achuil said.

“The bank of South Sudan will use the dollar to stabilize and maintain the dollar rate in the market as a short term solution,” he added.

For his part, oil minister Puot Kang Chuol appealed to South Sudanese business community “not to exaggerate the situation in the market by raising the prices of commodities” and urged the “to be patriotic and do what is just for the people.”