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South Sudan Appoints New Finance Minister Days After Firing Stephen Dhieu Dau

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.

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“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.

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Written by PH

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