South Sudan pound takes beating as VP makes appeal

Apr 28, 2015

South Sudan's Vice President James Wani Igga has implored leaders of the three states of Uganda, Kenya, and Ethiopia to allow South Sudan pounds (SSP) be used and deposited in their banks instead of dollars in exchange for their local currencies

By Obeta Okuga Robert

South Sudan's Vice President James Wani Igga has implored leaders of the three states of Uganda, Kenya, and Ethiopia to allow South Sudan pounds (SSP) be used and deposited in their banks instead of dollars in exchange for their local currencies.


He says this development is part of a plan to ease the worsening economic situation in the country. The SSP is now trading at 10 to one US dollar on the black market.

While briefing representatives from the three states in Juba Monday, Wani said one can deposit South Sudanese pounds and withdraw in the local currency of the country.

The Vice President said he had talked to President Yoweri Museveni about the request and he accepted the transaction.

Many local factories in South Sudan are nearing collapse while the cost of living in south Sudan has worsened due to depreciating SSP against the dollar.
 

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