S. Sudan Central Bank governor could be impeached over currency devaluation, MPs warn
- Article <http://www.sudantribune.com/spip.php?article48816#tabs-1> - Comments (5) <http://www.sudantribune.com/spip.php?article48816#tabs-2> [image: email] Email<http://www.sudantribune.com/spip.php?iframe&page=enviar_email_articulo&id_article=48816> [image: print] Print<http://www.sudantribune.com/spip.php?iframe&page=imprimable&id_article=48816> [image: pdf]Save<http://www.sudantribune.com/spip.php?page=spipdf&spipdf=spipdf_article&id_article=48816&nom_fichier=article_48816> [image: separation] [image: increase] <http://www.sudantribune.com/spip.php?article48816#> [image: decrease] <http://www.sudantribune.com/spip.php?article48816#> [image: separation] [image: separation] ------------------------------ November 14, 2013 (JUBA) - Members of South Sudan’s National Legislative Assembly have warned that they may seek to impeach the governor of the Central Bank of South Sudan after he made the unilateral decision on Monday 11 November to devalue the national currency, generating public outcry. *Kornelio Koriom, South Sudan’s Central Bank Governor addresses journalists in Juba, 11 September 2012 (ST)* On Wednesday the central bank reversed its decision to devalue the South Sudanese pounds (SSP) by up to 35% against the US dollar after receiving a directive from the national parliament. The reform, according to officials at the bank, was to close gap between official and black market rates of exchange, hoping that it would ensure price stability. Legislators reacted to the move my tabling a motion calling for the South Sudan’s minister of finance, Aggrey Tisa Sabuni and the governor of the central bank, Kornelio Koryom Mayiik to answer questions in parliament. Appearing before the house during a live broadcast on Friday, Mayiik said he received the summons late on Tuesday and needed more time to prepare a comprehensive report on his decision. "I have listened and followed very closely the decision of the house. I have respected it; this is the will of the people, so we cannot do otherwise". The "bank shall immediately revoke the decision", announced the governor. However, many MPs expressed dissatisfaction with the initial explanations made by the central bank governor and warned that they may try to impeach him if the report he produces is not convincing. The central bank governor did not inform the house of the reasons behind the reforms he announced or elaborate on how the bank was attempting to control inflation. The parliament gave Mayiik until Monday to prepare his response. "If he fails to come to the house with a comprehensive report, the house will definitely impeach him and ask the president to appoint [a] new person. We do not want people who wake up and make unilateral decision without due considerations", Jacob Deng, a Member of Parliament told *Sudan Tribune* on Friday. Senior MP, Paul Mayom Akec, who was one of the legislators who reacted to devaluation by denouncing the move in a speech in parliament, told the house, in a statement broadcast by the state television on Wednesday, that MPs were not satisfied with the justifications given by the bank’s governor over why he made the financial intervention. "As we have listened to the initial statements of the Governor, the delay for not having formulated a full written response to this August house is not justified, for the simple reason that his declaration on November 11, made several children and mothers go hungry. They could not afford buying food yester[day] night", he said. Akec is a senior member of South Sudan’s ruling Sudan People’s Liberation Movement (SPLM) who has served as a regional minister at various positions before secession from Sudan. He became the new nation’s minister of water resources and irrigation after independence in July 2011, remaining in his position until president Kiir’s cabinet reshuffle in July 2013. Akec was one of the few officials who went to the national parliament unopposed during the 2010 general elections, representing constituency number five in Rumbek East county of Lake state. (ST) -- You received this message because you are subscribed to the Google Groups "South Sudan Info - The Kob" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/SouthSudanKob/CAJb14oqC3g_xCDqWX57wbpPcuTMg2bAwLc5%2BRwgfvgKm1GNr4Q%40mail.gmail.com. For more options, visit https://groups.google.com/groups/opt_out.
