Contributor's Economics South Sudan

Salva Kiir Appoints New Central Bank Governors and Deputy Minister of Finance

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Jan 15, 2017(Nyamilepedia) —– South Sudan’s incumbent president, Mr. Salva Kiir Mayardit, relieved his long-term serving Central Bank Governor, Korneilo Koryom Mayik, and his deputy John Dor amid economics free fall and currency depreciation.

Kiir replaced Koryom, a fellow Dinka tribesman, with Dr. Othom Rago Ajak, a loyalist from the Chollo tribe.

Dr. Othom Rago Ajak, the newly appointed Central Bank Governor of South Sudan. Othom replaces Koryom Mayik who has served for 5 years(Photo: file)
Dr. Othom Rago Ajak, the newly appointed Central Bank Governor of South Sudan. Othom replaces Koryom Mayik who has served for 5 years(Photo: file)

Othom has served in the Central Bank starting under the former Central Bank Governor, Elijah Malok, as the Director for Banking Operations and Foreign Exchange, one of the branches of Central Bank that has experienced one of the highest rate of corruption in the country.

Credible sources from Central Bank revealed that the department for Banking Operations and Foreign Exchange was highly abused by politicians and relatives to the president who borrow money from the Central Bank at a lower rate to sell it in the black market at a very high rate.

Dr. Othom will be deputized by Hon. Dier Tong Ngor, a Dinka by tribe who has served for many years in Central Bank as the Director General for Currency & Banking.

President Kiir also appointed Mou Thik, a fellow Dinka, as the Deputy Minister of Finance and Planning replacing Hon. Mary Jervase Yak.

Kiir also sacked his long-term first Undersecretary in ministry of finance, Salvatore Garang, who has been the main drive managing the ministry of Finance.

President Kiir re-appointed John Dor as his technical advisor at ministry of finance and reappointed the former undersecretary of finance, Salvatore Garang Mabiordit, as technical advisor to ministry of trade and Industry.

Kiir also appointed Malou Puot as the director general of taxation in the Ministry of Finance.

President Kiir has had his eyes on Central Bank, Ministry of Finance and other key portfolios, appointing mostly people who are weak and very loyal to him and mostly from his Dinka tribe for the last 10 years.

Critics believe that the latest changes in Finance Ministry and Central Bank are being influenced by World Bank, IMF and SWISS firms who refuse to give South Sudan loans unless the financial dockets are cleansed of corruption and mismanagement.

According to many observers, who went viral on social media, these appointments will not change anything as President Salva Kiir is only recycling the same old faces, who most of them are already involved in corruption and money laundering.

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