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Kiir sacks finance minister amid economic crisis

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By XINHUA More by this AuthorSouth Sudan President Salva Kiir on Friday evening sacked the Minister for Finance and Planning Bak Barnaba Chol, replacing him with Daniel Daniel Chuong, an engineer. In a presidential decree issued in Juba, the capital of South Sudan, Kiir did not give any reason for the dismissal of the Finance minister. The new Finance minister previously served as the former minister of Petroleum and was until his appointment the technical adviser in the petroleum ministry. The changes came amid hyperinflation and the depreciation of the South Sudanese pound (SSP), the country's local currency. Read: South Sudan oil shrinks, economy tanksThe SSP fell to a record low of 1,800 units against the US dollar, compared to 1,100 units to the greenback three months ago.

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