South Sudanese President Salva Kiir has sacked his longer – serving central bank governor Korneilo Koryom Mayik and his deputy John Dor amidst the country economic collapse.
This comes a week after a Swiss firm offered to bail out the country’s empty coffers.
According to a decree broadcast on state television on Saturday, the outgone bank chief has been replaced by an economist Othom Ajak.
President Kiir also sacked deputy minister of finance Mary Jervase Yak and first Undersecretary in ministry of finance salvatore Garang.
Mayik was reportedly dismissed due to concerns about high inflation and the depreciation of the South Sudanese Pound (SSP) against the dollar. The SSP fell over 10 percent in the first week of January to 105 from 90 alongside inflation hurtling from 17 percent in October to over 800 percent.
The central bank abandoned fixed exchange rates in December 2015.
However, the sacked deputy governor of Central Bank John Dor appointed technical advisor at ministry of finance while former undersecretary of finance Salvatore Garang Mabiordit appointed technical advisor to ministry of trade and Industry.
Malou Puot was also appointed as director general of taxation in the Ministry of Finance.
The country’s oil production has plunged and the economy is suffering after an armed conflict between Kiir and his former deputy Riek Machar started in December 2013.
Tens of thousands have been killed and 3 million displaced.
However, no reasons was given for the reshuffling in the financial sectors of the country.
South Sudan faces economic collapse after financial donors withdrew their support due to the ongoing civil war.
If the deal goes through, it would be a breakthrough for the Juba government and significantly hamper US efforts after it pushed the UN Security Council to isolate South Sudan and consider a draft resolution on targeted sanctions against several leaders in November.
Among those targeted is Sudan People’s Liberation Army Chief of Staff and President Kiir’s right-hand man Gen Paul Malong Awan.