---------- Forwarded message ---------- From: Alfred Lokuji <[email protected]> Date: Tue, Nov 26, 2013 at 7:58 PM Subject: Re: [SouthSudanInfo] Cabinet Fixes Dollar Rate At 2.95 SSP To: "[email protected]" <[email protected]>
Where in this world does a non-analytical cabinet make a complicated decision such as devaluing or raising the value of the national currency - a matter that requires competence in Fiscal matters, the turf of Economists, Econometricians and such type of Gurus. Where this genre of wizardry is found is usually in Central Banks or Ministries of Finance - not politically driven politicians! With us seeking to join the EAC, how do we make our currency so strong with no GDP-base to back it up. We are telling East Africans they have to cough up quite a bit to buy anything from us! *Alfred Sebit Lokuji* *Vivacel: (+211) (0) 955 213 [email protected] <[email protected]>* *"Those who cannot remember history are condemned to repeat it!" George Santayana. * *Corollary: Truth-telling in repentance is a necessary condition for Reconciliation* On Tuesday, November 26, 2013 7:07 PM, Elisabeth Janaina < [email protected]> wrote: Cabinet Fixes Dollar Rate At 2.95 SSP The cabinet has resolved that the South Sudanese Pound exchange rate to the dollar and other international currencies should remain as it was before the decision taken by the Central Bank and the Ministry of Finance to devalue the currency. 25 November 2013 *By Waakhe Simon Wudu* *JUBA, 25 November 2013 [Gurtong] -* The resolution was passed on Friday during a Council of Ministers meeting chaired by President Salva Kiir. “After the deliberations, the cabinet resolved that the official exchange rate before they declare unification exchange rate should continue and for that matter the new exchange rate should no longer operate but continue with the old exchange rate of 2.95 SSP per dollar,” Michael Makuei, government Spokesman told the press. Two weeks ago the Central Bank and the Ministry of Finance decided to devalue the exchange rate of the currencies in the country. The move created an outcry in the country<http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/ArticleView/mid/519/articleId/13744/South-Sudanese-Citizens-React-On-New-Dollar-Exchange-Rates.aspx> . In a circular issued by the Central Bank, the rate was fixed at 4.5 SSP to the dollar provoking wider criticism. The Central Bank Governor and the Minister of Finance are yet to appear before parliament to explain as to what had compelled<http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/ArticleView/mid/519/articleId/13848/South-Sudan-Central-Bank-Governor-Finance-Minister-Boycott-MPs-Summons.aspx>them to devalue the local currency. Posted in: Home<http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/CategoryView/mid/519/categoryId/1/Home.aspx>, Business<http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/CategoryView/mid/519/categoryId/2/Business.aspx>, Foreign Relations<http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/CategoryView/mid/519/categoryId/5/Foreign-Relations.aspx>, Governance<http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/CategoryView/mid/519/categoryId/6/Governance.aspx>, Featured Stories<http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/CategoryView/mid/519/categoryId/137/Featured-Stories.aspx> -- 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/CAJb14orrkUKkDEJmGu85K%2B6CJkSkP96J%2BAaOv2KjvG5ZSCKbwQ%40mail.gmail.com . For more options, visit https://groups.google.com/groups/opt_out. -- 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/CAJb14oqpMcEnALDLRKE5NceZf%2BNO%2B37yF8%2B_57sQCbsp9GYnqA%40mail.gmail.com. For more options, visit https://groups.google.com/groups/opt_out.
