By Lodu William Odiya
President Salva Kiir Mayardit has directed the Bank of South Sudan (BoSS), the Ministry of Finance and the broader macroeconomic team to work together hand-in-hand to stabilise the nation’s economy.
In a statement issued by the presidential press unit yesterday, President Kiir directives came during a swearing-in ceremony of Johnny Ohisa Damian the newly appointed Governor of the Bank of South Sudan for a third consecutive term.
According to the statement, the President announced three national priorities, namely, peace and security, economic recovery, as well as holding general elections, programs he said requires full funding.
”In light of these priorities, Kiir tasked the Central Bank Governor to take the lead in addressing and resolving the existing challenges by addressing the liquidity crisis, reforming the banking sector, and restoring public confidence in the financial system through implementation of sound and disciplined monetary policies” the statement partly read.
In his acceptance remarks, Governor Johnny Ohisa Damian highlighted the necessity of diversifying the economy by focusing on investments in the gold purchase project to improve national revenues and reduce dependency on oil.
The BoSS plays a critical role in formulation of monetary policy, banking supervision, and the maintenance of financial stability, aspects officials say are currently at the center of renewed efforts to resuscitate the economy.