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How recycling officials in the financial institutions will only damage South Sudan’s fragile economy

Nov 03, 2020(Nyamilepedia) — A south Sudanese economic analyst, Prof Akim Ajieth has warned that recycling post holders in the financial institutions is detrimental to the economy.

Economic analyst Dr. Akim Ajieth Buny speaking(Photo credit: courtesy image/supplied)
Economic analyst Dr. Akim Ajieth Buny speaking(Photo credit: courtesy image/supplied)

Prof. Akim Ajieth’s warning comes a day after President Kir reinstated the former Central Bank Governor Dier Tong Ngor to the office in a presidential decree that was read on state-run TV SSBC.

The analysts advised, in the wake of the current debilitating economic crisis, the government should desist from recycling post holders and instead inject fresh blood with new ideas.

According to the professor, the government and President Kiir in particular must have run out of ideas to revive the country’s economy.

“There is no reason to bring back the same guy who had failed the bank, the country, and failed the economy. There is no need to bring back the same person when in fact there are thousands and thousands of South Sudanese within the country and outside who are competent enough and who could do the job better,” Prof. Ajieth said in an interview with a local radio.

Ajieth predicted that the economic situation may delve deeper into crisis as the old guards cannot bring new ideas on board.

“In the next few days, few months the economy is going to deteriorate even further than it is now because these old folks have no idea how to fix the thing,” Ajieth lamented.

 “They were there before and now that they are coming back, they are going to do the same status quo. I mean you cannot conceptualize, it’s very difficult to conceptualize, and it’s difficult to understand,” He said.

He wondered why the government does not engage educated South Sudanese in its attempt to salvage the already beaten economy.

According to him, the government is not interested in educated people.

“I can tell you there are a lot of people with master’s degrees, with PHDs in economics, public administration, and management. And these are the people who are specialized in what we call turn-around management. They know how to turn things around. They know how to turn a bankrupt institution into a very good institution. These people are there,” Ajieth advised.

Ajieth urged the government to get the right people in the right places, introduce austerity measures on government dealings like travel, accommodation, and introduce new and qualified people in government institutions.

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