![Moses Makur Deng, central bank governor, speaking to the media in Juba on Tuesday, 11th Jan. 2022. [Photo by Eye Radio]](https://i0.wp.com/www.sudanspost.com/wp-content/uploads/2022/06/2I3A5996-scaled-1.jpg?ssl=1)
The bank governor who had invited journalists for a press conference was expected to discuss with the president the deteriorating economy that has seen rise in prices of basic goods such as the sack of maize that has gone up to 35,000SSP from 18,000SSP in a week’s time.
It is also reported that prices of basic commodities in Northern Bahr el Ghazal have doubled since last week.
Chance Baniko, the public relations officer at the central bank told reporters that the press conference had been cancelled because the governor had been called to the presidency for a meeting with Kiir to discuss the deteriorating economy.
“This morning, the governor was called by the president for an urgent meeting and that is why the press conference was cancelled. We are very sorry for that but we will inform you in case he wants to hold the press conference tomorrow,” he told reporters.
RUSSIAN INVASION OF UKRAINE
Makur last month warned of tough times ahead for South Sudan’s economy and blamed the ongoing Russian invasion of Ukraine for it.
“The war in Ukraine has been a major shock for global commodity markets. South Sudan’s oil revenues are increasing and the country is not directly dependent on imports of grain from Ukraine and Russia,” Makur said in a statement seen by Sudans Post at the time.
“But we are still seeing rising prices of refined petroleum products and food items which are imported from our regional countries. These developments are expected to contribute to a rise in inflation in the coming months,” he added.
He said the bank was “taking steps to reduce the impact of higher prices on people’s livelihoods. As of this week, the Ministry of Finance and Planning has begun to clear salary arrears, which will help increase households’ purchasing power.”
