South Sudan this week got yet another finance minister as it struggles to halt the free fall of a war-ravaged economy, but analysts warn prospects are bleak as long as conflict and corruption go unaddressed.
President Salva Kiir named Salvatore Garang Mabiordit, a former undersecretary in the finance ministry, to head the portfolio after sacking Stephen Dhieu Dau on Tuesday.
“We have lost the value of our currency… this is a challenge that is ahead of you and you must see very hard how to get out of this,” Kiir told Garang at his swearing-in ceremony.
Garang is the fifth finance minister since the oil-rich nation achieved independence in 2011.
After more than four years of civil war, the government is broke and hyperinflation — which peaked at around 500 percent in 2016, decelerating to 155 percent in 2017 — has sent prices soaring.