economy

South Sudanese Pound Appreciates but prices remain high

October 18, 2020 economy, News, Nyamilepedia, World

The U.S. has landed but prices remain at the ceiling(Photo credit: Adija)

Oct 18, 2020(SSNN) — In the wake of an announcement that crippled the South Sudanese pound overnight, the Sudan government began to enforce a far-fetched military grounded policy that saw the currency appreciating within less than 48 hours following president Salva Kiir’s emergency meeting with the cabinet on Wednesday. The South Sudanese pound which depreciated from 510 SSP per dollar […]

Central Equatoria State bans illegal trading of foreign currency

October 18, 2020 East Africa, economy, News, Newsbeat, South Sudan

President Salva Kiir meets Emmanuel Adil Anthony, the governor of Central Equatoria State today, September 9, 2020(Photo credit: Courtesy of office of the president)

Oct 18, 2020(SSNN) — On Friday, the governor of Central Equatoria state, Emmanuel Adil Anthony Wani, banned the operations of illegal dealings in foreign currency operating without authorization from concerned authorities in Central Equatoria State. The illegal dealings are blaming for soaring prices and depreciation of South Sudan local currency, SSP. “I Emmanuel Adil Anthony Wani, Governor of equatorial state […]

Lt. Gen. Ayii Duang Ayii ordered for Prices to be reduced by Monday, Oct 19

October 18, 2020 Corruption, economy, News, Newsbeat, South Sudan

President of South Sudan Business Union, Lt. Gen. Ayii Duang Ayii

Oct 18, 2020(SSNN) — In attempt to stablize the economy, which is usually determined by the laws of supply and demand in many countries, South Sudan has issued a 72-hour warrant to traders and businesses in the country to reduce prices in the market with immediate effect. Speaking during a joint press conference organized by the Chamber of Commerce and […]

South Sudan borrows $88 millions from the Africa Export-Import Bank (Afreximbank)

October 3, 2020 Breaking News, East Africa, economy, News, Newsbeat

Leaders of the African Export-Import Bank (Afreximbank)(Photo credit: African Business)

Oct 3, 2020(SSNN) — South Sudan cabinet of ministers has secured at least $88 millions in loans from the Africa Export-Import Bank (Afreximbank), according to the government spokesman and the Minister of Information, Hon. Michael Makuei Lueth. Briefing the media after a cabinet ministers meeting in the capital, Juba, the Minister of Information said the Council of Ministers has agreed […]

Opinion: Dr. Olympio Attipoe, the victim of corruption fight in South Sudan

January 6, 2020 Corruption, economy, Opinions

By Zechariah Makuach Maror January 6th, 2020 (SSNN)—Few months heretofore the commissioner general of South Sudan revenue authority, Dr. Olympio Kudzo Attipoe, a contracted foreigner who hails from Ghana was relieved by the ministerial statute. It was subsequently followed by formation of the investigation committee to find out the allegation brought against him by his colleagues concerning misappropriation of the […]

WFP welcomes donations of US$500,000 from Korea

December 24, 2019 Civil War, economy, Newsbeat, South Sudan, UN

WFP's beneficiaries unload food items from vehicles at an unidentified distribution point (Photo: Supplied)

December 24th, 2019 (SSNN)–As humanitarian needs increase as a result of the ongoing instability and other various factors, the United Nations World Food Program in the Republic of South Sudan has highly welcomed a contribution of $ 500,000 from the Republic of Korea. “WFP is grateful to the support from the Republic of Korea,” says Matthew Hollingworth, WFP’s Country Director […]

Ethiopia: IMF offers $2.9 billion financing package for Ethiopia’s economic reform

December 23, 2019 Addis Ababa, economy, Newsbeat

December 23rd, 2019 (SSNN)-The International Monetary Fund’s Executive Board has approved a three-year $2.9 billion financing package to support Ethiopia’s economic reform program, the IMF said said in a statement. The agreement, supported by the Fund’s Extended Credit Facility (ECF) and Extended Fund Facility (EFF), “aims to support the authorities’ implementation of their ambitious reform agenda and catalyze concessional […]

US to slap fresh sanctions on South Sudan’s oil sector- US official

December 23, 2019 Civil War, Corruption, economy, Newsbeat, South Sudan, USA

December 23rd, 2019 (SSNN)-In view of the government’s reluctance to implement the Revitalized Peace Agreement, a US official said on Sunday that, the United States will impose fresh sanctions on anyone who buys South Sudan crude oil or engages in business with the government of South Sudan and no oil exemptions will be offered to that country whatsoever. “We […]

INVESTIGATIVE REPORT PART-2: The Sentry Reveals “Oligarch” Al-Cardinal as Major Enabler of Corruption and Violence in South Sudan

October 7, 2019 Analyses, Civil War, Corruption, economy, Newsbeat, South Sudan, The Sentry

Tycoon with Ties to US, UK, and UAE Has Received Hundreds of Millions of Dollars in Suspect Contracts, Imported Weapons, and Formed Business with a Ruthless Warlord. Oct 8th, 2019 (SSNN) — An investigative report published today by The Sentry, “Al-Cardinal: South Sudan’s Original Oligarch” spotlights the business activities of Ashraf Seed Ahmed Hussein Ali, widely known as Al-Cardinal, a […]

Opinion: Violence is the business mode in South Sudan

October 6, 2019 Analyses, Civil War, Corruption, economy, Newsbeat, Opinions, Peace Building, South Sudan, The Sentry

By: George Clooney and John Prendergast, Anecdotes abound of corrupt, war-torn African dictatorships. South Sudan, the world’s newest nation, is usually Exhibit A in those tales. But in the shadows of this narrative is another part of the story, usually untold. It is the story of transnational war profiteers who have come from all over the world to enrich themselves […]

Hon. Salvatore Garang Mabiordit Held Successful Meetings In Washington DC, USA

April 20, 2019 Banking, Business, economy, Newsbeat, South Sudan, World

2019 Spring Meetings of International Monetary Fund (IMF) and the World Bank Group (WBG), Washington, DC, USA(Photo credit: Larco Lomayat/SSNN)

By Larco Lomayat Juba, South Sudan, April 20, 2019(SSNN) — The delegation of the Government of the Republic of South Sudan led by Hon. Salvatore Garang Mabiordit, Minister of Finance and Planning, comprising of senior officials from the Ministry of Finance and Planning and the Central Bank of South Sudan who arrived in the Washington DC, United States of America […]

IMF Staff Conclude South Sudan Visit

March 19, 2019 economy, Financial, Newsbeat, Op-Eds

Chief mission of IMF Mission, Mr. Jan Mikkelsen and his Delegation meeting the South Sudanese leaders led by Dr. Riek Machar in Juba in May 2016. Mr. Jan Mikkelsen returned two weeks ago and has been conducting meetings in the capital, Juba, for the past two weeks(Photo credits: Supplied)

March 18th, 2019(SSNN) — A staff team from the International Monetary Fund (IMF), led by Jan Mikkelsen, visited South Sudan during March 5-15 to conduct discussions of the 2019 Article IV Consultation. At the conclusion of the mission, Mr. Mikkelsen made the following statement: “The resumption of hostilities in July 2016 severely impaired the South Sudanese economy, which led to a […]