South Sudan Economy Begins To Rise As More Rebel Forces Arrive in The Capital
March 31, 2016(Nyamilepedia) —– For the first time in more than two years, many South Sudanese went to bed with high hopes that the return of peace could mean the rebirth of the young nation.
Despite that the opposition leader, Dr. Riek Machar, has not yet return to the capital, the landing of SPLA-IO forces in the capital has spiked a sudden appreciation of South Sudanese pound(SSP).
In less than 48 hours the SSP, which has been depreciating since the Heglig war in 2012, has suddenly appreciated by nearly 45% from 45 SSP per dollar on Tuesday to 28SSP per dollar on Wednesday.
To many South Sudanese, this is a good indication that the devastated economy could be revised if stability returns.
While some economists believe that the sharp appreciation of SSP is influenced by market speculations and could be temporary, other economists argue that the return of SPLM/SPLA-IO and other fighters to the capital will encourage more investors to return to the country and therefore, if peace is sustained, South Sudan’s economy will eventually stabilize.
At least more than 150 SPLA-IO forces have arrived in the capital this week and more are expected to arrive before the return of the Country’s First Vice President designate, Dr. Riek Machar Teny.
According to the join monitoring and evaluation commission, at least a minimum threshold of 1370 IO soldiers must be brought to the capital before Dr. Riek Machar arrive to form the Transitional Government of National Unity(TGNU).
Dr. Machar, who is expected to return to the capital in less than 10 days, is currently on diplomatic missions in East Africa.
After meeting the Kenyan president, Uhuru Kenyatta, and the South Sudanese community in Kenya, Machar has traveled to Addis Ababa to meet and assures Prime Minister Hailemariam Dessalegn, the chairman of IGAD, who stood with the South Sudanese people since December, 2013.
“Today March 31, 2016, I met with H.E Hailemariam Dessalegn the Prime Minister of the Federal Democratic Republic of Ethiopia who is also the current Chairman of IGAD Assembly of Heads of State, and Ambassador Berhane Gebre-Christos, the special Envoy of the Prime minister.” Dr. Machar said in a statement after the meeting.
According to the IO chairman, the two leaders discussed issues regarding the implementation of the Agreement on the Resolution of the Conflict in the Republic of South Sudan (ARCISS).
Machar pledged the meeting has tackled all the factors that impede the implementation of the Transitional government of National Unity, which is likely to be formed within the next two weeks.