South Sudan’s President, Salva Kiir has dismissed the finance minister, Mr. Awow Daniel Chuong just four months into his term, as reported by state-owned television.
Kiir did not provide a reason for the dismissal of the minister who had been appointed in mid-March 2024. Economist, Marial Deng has been appointed as the new finance minister. This is the sixth leadership change in the finance ministry since 2020.
The South Sudanese economy has faced severe challenges in recent years, exacerbated by communal violence and a significant decline in crude oil export revenue following the 2013-2018 civil war. The situation has been further strained by recent export disruptions due to the conflict in neighboring Sudan.
In May, Central Bank Governor, James Alic Garang noted that South Sudan’s foreign exchange reserves were at historic lows. The International Monetary Fund projects that consumer price inflation will reach 54.8% this year.
President Kiir, who has been in office since South Sudan gained independence from Sudan in 2011, is overseeing a country preparing for presidential, parliamentary, and regional representative elections scheduled for December 2024.
