Falling Pound Hitting South Sudanese The high commodity prices in South Sudan have been attributed to the steadily falling value of the South Sudanese Pound. 08 June 2015
By Peter Lokale Nakimangole *TORIT, 07 June 2015 [Gurtong] *– Prices of essential goods and services have plummeted across the country, with residents hard hit with the inflation costs. The Eastern Equatoria State Economic Crisis Management Committee chairman Ochan John Bongomin told Gurtong that the scarcity of the United States Dollar has worsened the situation. “As a result of this local producers have a low purchasing power and hence the price increments to compete with the imported goods that are equally highly produced. They also want to make profits like the foreign investors", said Ochan who is also the State Cabinet and Parliamentary Affairs Minister. He acknowledged his Committee’ s concerns with the dwindling supply of goods against rising demands, saying it had contributed to high costs of living. “ The companies operating in the state are yet to be issued with letters of credit by the national government to enable them obtain the US currency for purchasing goods from neighbouring countries” , he said. He appealed to the national Ministry of Finance and Economic Planning to move promptly to remedy the situation. Posted in: Home <http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/CategoryView/mid/519/categoryId/1/Home.aspx> -- To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] Visit this group at https://groups.google.com/d/forum/southsudankob View this message at https://groups.google.com/d/msg/southsudankob/topic-id/message-id For more options, visit https://groups.google.com/d/optout --- 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]. Visit this group at http://groups.google.com/group/SouthSudanKob. To view this discussion on the web visit https://groups.google.com/d/msgid/SouthSudanKob/CAJb14oqs9WcedcnsjxpU%3Dm6wE87xUqJ4zCYbQWyNEDoN0TL6ng%40mail.gmail.com. For more options, visit https://groups.google.com/d/optout.
