![SPLM Party Secretary-General Peter Lam Both speaks at a rally in Western Bahr el Ghazal State’s capital Wau. [Photo courtesy]](https://i0.wp.com/www.sudanspost.com/wp-content/uploads/2023/07/357520909_1327106464584076_2239741169517091087_n.jpg?resize=952%2C546&quality=89&ssl=1)
Lam made the remarks during a ceremony honoring Red Army Foundation members in Juba on Wednesday. He said that the UN had pressured the South Sudanese government to devalue its currency in 2014, and that this decision had led to a significant decline in the value of the pound.
“The UN here in 2014 when they were talking about devaluation of the South Sudan currency, the UN was every day on the necks of people. ‘You devalue your currency, devalue your currency, it will be okay,’” Lam said.
“The day we accepted that, what happened? Our pound started to go down like nobody knows. And then they disappeared, all of them, from the table. If you try to look for them, last time you said, they said last time we said what?”
Lam said that the UN had abandoned South Sudan after the devaluation, and that the country now needs to take ownership of its own economic policies.
“The first and the last one is transferred from South Sudan. They are not there. So let us own the policies of our country, of our government, so that whatever we do benefits us,” he said.
Lam’s comments come as the South Sudanese pound continues to lose value against the US dollar. The pound is currently trading at around SSP1082.5 to the dollar. In 2014, the pound was trading at SSP2.95.
Due to economic crisis imposed by the deadly conflict that had begun in 2013, the country devalued its currency by 84 percent as the government allowed the pound to trade freely, surrendering to prices charged in the black market.
It was then trading at 18.5 per dollar, which at the time was the parallel market rate.
The devaluation of the pound has had a significant impact on the cost of living in South Sudan, making it difficult for many people to afford basic necessities such as food, fuel, and medicine.
The UN has not yet responded to Lam’s accusations.
The gap is significantly too high
Free our people from the cost of living caused by the man-made called … catastrophis political consequences
The question is are they demanding a political consensus?
What need to change to avoid economic impact/recession near the edge of chaos..?
What lessons can we learn from the worse case scenario ?
We can analyse the inflation ratio ? Is it between 2 to 3 % where it must be kept within the target range?
The above statement is only opinion. I reserved my right not to be considered or take responsibility for any …
Dr Woul Bo (26 November 2023) can be reach on email mentioned above for clarification.